HomeMy WebLinkAbout2007-2008 Annual Comprehensive Financial ReportCITY OF EVANSTON, ILLINOIS
COMPREHENSIVE ANNUAL FINANCIAL REPORT
FOR THE YEAR ENDED
FEBRUARY 29, 2008
Prepared by Finance Department
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CITY OF EVANSTON, ILLINOIS
'fable of Contents
IN'FRODUCPORY SECTION PAGE
III incipal Officials V.
Organisation Chad vt
Letter of Transmittal vn
Certificate of Achievement for Excellence in Financial Reporting xiv
FINANCIAL SECTION
INDFPENDFNT AUDI'CORS' RFPOR'f ON THF, FINANCIAL STATLMLNTS
MANAGEMENTS DISCUSSION AND ANALYSIS
BASIC FINANCIAL S'rATFMFNTS
Statement of Net Assets
I I
Statement of Activities
13
Governmental Funds Balance Sheet
15
Governmental Funds Statement of Revenues, Expenditures,
and Changes in Fund Balances
16
Reconciliation of the Statement of Revenues, Expenditures, and Changes
in Fund Balances of Governmental Funds to the Statement of Activities
17
Proprietary Funds Statement of Net Assets
18
Proprietary Funds Combining Statement of Revenues. T:xpenses, and
Changes in Fund Net Assets
20
Proprietary Funds Statement of Cash Flows
21
Fiduciary Funds- Statement of Net Assets
23
Fiduciary Funds - Pension Trust Funds - Statement of Changes in
Plan Net Assets
24
Notes to the Financial Statements
Index for Notes to the Financial Statements
Notes to the Financial Statements
25
2s
RLOUIRGD SUPPLFMLNTARY INFORMATION
Pirelighlerti Pension Fund, Police Pension Fund. and Illinois
Municipal Retirement Fund - Schedules of Funding Progress 90
Pirefighterti and Police Pension Funds - Schedules of
Employer Contribution 91
General Fund - Schedule of Revenues, Lxpenditures, and Changes
in Fund Balance - Budget and Actual (Budgetary Basis) 92
CITY OF EVANSTON, ILLINOIS
Table of Contents
FINANCIAL SECTION (Continued) PAGE
Notes to the Required Supplementary Information
Digest of Changes - IMRF 93
Conversion from GAAP basis to Budgetary basis 93
COMBINING AND INDIVIDUAL FUND
STATEMENTS AND SCl-I]-DULES
GOVERNMENTAL FUND TYPF,S
Nonmajor Governmental Funds Combining Balance Sheet 94
Nonmajor Governmental Funds Combining Statements of Revenues,
Expenditures, and Changes in Fund Balances 99
GIiNERAL POND
Schedule of Revenues - Budget and Actual (Budgetary Basis)
104
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
11 I
SPECIAL RE ENUE FUNDS
Motor Fucl Tax Find
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
113
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in
Pond I3alance - Budget and Actual (Budgetary Basis)
114
Emergency Telephone System Fund
Schedule of Revenues. Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
115
Affordable Dousing Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
116
Community Development Block Grant Fund
Schedule of Revenues, I>xpenditn'es, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
117
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
118
Special Scrvice District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual (Budgetary Basis)
121
CITY OF EVANSTON, ILLINOIS
Table of Contents
COMBINING AND INDIVIDUAL FUND STATEMENTS AND SCHEDULES (Continued) PAGE
Township -'Town Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 122
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in
Fund Balance - Budget and Actual 123
DEBT SERVICE FUNDS
All Funds
Combining Schedule of Rcvcnues. Expenditures, and Changes in
Fund Balances - Budget and Actual (Budgetary Basis) 124
PROPRIETARY FUND'1'YPI?S
Nonmajor Proprietary Funds Statement of Net Assets 126
Nonmajor Proprietary Funds Combining Statement of Revenues,
Expenses, and Changes in Fund Net Assets 128
Nonmajor Proprietary Funds Statement of Cash Flows 129
WATER 17UND
Schedule of Net Assets 131
Schedule of Changes in Net Assets - Reserved - Resa icted Accounts 133
Operation and Maintenance Account - Schedule of Revenues. Expenses.
and Changes in Unreserved Net Assets - Budget and Actual 134
Operation and Maintenance Account - Schedule of Operating Revenues
Budget and Actual 135
INTERNAL SERVICI; FUNDS
All Funds
Statement of Net Assets 136
Combining Statement of Revenues, Expenses, and
Changes in Net Assets 137
Combining Statement of Cash Flows 138
AGENCY FUNDS
Special Assessment Agency Fund
Statement of changes of Assets and Liabilities 140
In
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CITY OF EVANSTON, ILLINOIS
Table of Contents
COM13INING AND INDIVIDUAL FUND STA'1'I;MFNTS AND SCI-IFDULFS (Continued) PAGF
STATISTICAL SECTION (UNAUDITED)
Net Assets by Component
141
Changes in Net Assets
142
I'und Balances - Governmental funds
143
Changes in Fund Balances - Governmental funds
144
Assessed Value and Actual Valued of'faxable Property
145
Principal Properly Tax Payers
146
Property Tax Levies and Collections (City) - Last Ten Levy Years
147
]ratio of General Debi Outstanding
148
Direct and Overlapping Governmental Activities
149
Pledged - Revenue Coverage
150
Demographic Statistics - Last Ten Years
151
Principal Employers
152
Pull -Time 8quivalent City Government L'niployces by ]'unction
153
Property fax Rates per $100 - Direct and Overlapping Govcmments
154
Water Sold by Type of Customer (in 100 cubic feet)
155
Water Sold by Major Customers
156
Operating Indicators by Function/Program
157
Capital Assets Statistics by Function
158
TAX INCREMENT FINANCING D1S'fRIC'I' RGQIIIREMGN'rS
Independent Accountantti Report on Compliance - Tax Increment 1'inancing Disbicts 159
iv
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INTRODUCTORY SECTION
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CITY OF EVANSTON, ILLINOIS
Principal Officials
February 29, 2008
Cheryl Wollin
Lionel Jean -Baptiste
Melissa A. Wynne
Steven J. Bernstein
LEGISLATIVE
CITY COUNCIL
Lorraine H. Morton, Mayor
EXECUTIVE
Rolanda B. Russell, Interim City Manager
FINANCE DEPARTMENT
Steven E. Drainer, Acting Finance Director
I-litesh Desai, Accounting Manager
Patricia P. Ford, Payroll Manager
Jewell Jackson, Purchasing Manager
Kevin Lookis, Revenue Manager
Wendy McCambridge, Administrative Adjudication Manager
v
Delores A. Holmes
Edmund B. Moran, Jr.
Elizabeth B. Tisdahl
Ann Rainey
Anjana Hansen
ADVISORY BOARDS
AND COMMISSIONS
FINANCE
LAW I
COMMUNITY '
DEVELOPMENT
FIRE i
LIBRARY
CITY OF EVANSTON
ORGANIZATION CHART
RESIDENTS
MAYOR
CITY COUNCIL
CITY MANAGER I
vi
CITY CLERK
PUBLIC WORKS
HUMAN RESOURCES
HEALTH AND
' HUMAN SERVICES
POLICE
RECREATION, PARKS
AND FORESTRY
City of
Evanston -
September 24, 2008
The Honorable Mayor Lorraine 1-1. Morton,
Members of the City Council
City of Evanston, Illinois
INTRODUCTION
The Comprehensive Annual Financial Report (CAFR) of the City of Evanston (City) for the fiscal year
ended February 29, 2008 is hereby submitted. The CAFR is prepared by the City's Finance Department
in accordance with the financial reporting principles and standards of the Governmental Accounting
Standards Board. Responsibility for both the accuracy of the data and the completeness and fairness of
the presentation, including all disclosures, rests with the City. We believe the enclosed data is accurate
in all material respects and is reported in a manner designed to present fairly the financial position and
results of operations of the various funds and capital assets of the City. All disclosures needed to enable
the reader to understand the City's financial activities have been included.
This report consists of management's representations concerning the finances of the City of Evanston.
Consequently, management assumes full responsibility for the completeness and reliability of all of the
information presented in this report. To provide a reasonable basis for making these representations,
management of the City has established a comprehensive internal control framework that is designed to
both protect the government's assets from loss, theft, or misuse and to compile sufficient reliable
information for the preparation of the City of Evanston's financial statements in conformity with
accounting principles generally accepted in the United States of America (GAAP). Because the cost of
internal controls should not outweigh their benefits, the City's comprehensive framework of internal
controls has been designed to provide reasonable rather than absolute assurance that the financial
statements will be free from material misstatement. As management, we assert that, to the best of our
knowledge and belief, this financial report is complete and reliable in all material respects.
The City is required to undergo an annual single audit in conformity with the provisions of the Single
Audit Act of 1984 as amended and U.S. Office of Management and Budget Circular A-] 33, Audits of
States, Local Governments. and Non -Profit Oreanizations. Information related to this single audit,
including the schedule of federal financial assistance, findings and recommendations, and auditors'
reports on the internal control structure and compliance with applicable laws and regulations, is to be
presented in a separate single audit report.
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This report includes all the funds and capital assets of the City and its component unit. The Evanston
Township Board of Trustees is the same individuals as the City Council members. The financial
statements of Evanston 'Township are included in the reporting entity. Although the "Township is a
legally separate entity, it is considered a component unit and, therefore, data from the Township is
blended with data of the City.
The City's financial statements have been audited by Virchow, Krause & Co., LLP., a firm of licensed
certified public accountants. The goal of the independent audit is to provide reasonable assurance that
the f inancial statements of the City of Evanston for the fiscal year ended February 29, 2008, arc free of
material misstatement. The independent audit involved examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the accounting principles used and
significant estimates by management, and evaluating the overall financial statement presentation. The
independent auditors concluded, based upon the audit, that there was a reasonable basis for rendering an
unqualified opinion that the City's financial statements for the fiscal year ended February 29, 2008, are
fairly presented in conformity with GAAP. The independent auditors' report is presented as the first
component of the financial section of this report.
GAAP requires that management provide a narrative introduction, overview, and analysis to accompany
the basic financial statements in the form of Management's Discussion and Analysis (MD&A). This
letter of transmittal is designed to complement the MD&A and should be read in conjunction with it.
The City's MD&A can be found immediately following the report of the independent auditors.
PROFILE OF THE CITY OF EVANSTON
The City: The City of Evanston constitutes many communities, perspectives, and qualities: it is a
suburb, an urban center, a university town, and lake -front community; it has leafy neighborhoods and
lake -front mansions; it has apartment, condominium, and student housing; its residents are commuters
and locally employed workers; its downtown is prospering, but neighborhood commercial centers arc
also strong and developing. It is a part of the Chicagoland economy and has a vigorous commercial and
professional economy of its own. A population of approximately 75,000 is diverse by race, religion,
age, education, economics, and occupation. With 8,700 people per square mile, Evanston has double
the population density of the average North and Northwest suburb, and approximately half the density
of Chicago. The City has over 260 acres in 75 parks and 5 beaches.
Evanston is contiguous with Chicago, and only 13 miles by rapid transit, commuter rail, expressway, or
parkway from downtown Chicago. It borders the north shore communities of Skokie and Wilmette.
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In 1863, the Village of Evanston was incorporated as a town and, after several annexations, in 1892, the
town became a city. The City's southern boundary was established with the City of Chicago and the
present City limits, encompassing an area of approximately eight square miles, have been essentially
the same ever since. The City has four miles of shoreline along Lake Michigan.
Evanston is the home of Northwestern University, so named as it was established to serve the
Northwest Territory. The University first platted the village which surrounded it. The State Legislature
named the Village "Evanston" in honor of Dr. John Evans, the then president of the University's Board.
About 4,000 students live in university housing; another 900 live in fraternities and sororities. Roughly
800 live in two graduate student -housing complexes and approximately 3,500 live off -campuses, mostly
in privately owned apartments in Evanston.
The Government: The City is a home rule municipality under the Illinois Constitution. As such, it has
no tax rate or debt limits, nor is it required to conduct a referendum to authorize the increase of debtor
the imposition of real property taxes.
The City has a Council/Manager form of government with an elected Mayor. The Mayor is elected for
a four-year term. The Aldermen each represent one of nine wards and are elected to terms of four
years. The City Council is organized into five standing committees: Administration and Public Works,
Budget, Human Services, Planning and Development, and Rules. The City Council has also established
several special committees and commissions and advisory boards.
The City Manager is the Chief Administrative Officer of the City and is responsible for the
management of all City operations under the direction of the City Council. The City Manager appoints
and supervises the directors of the City's twelve departments. The Finance Director is responsible for
the central financial functions of the City.
The City provides a broad range of municipal services, including police and fire protection, streets and
parking, water and sewer service, public libraries, social services, health and services for the aging,
beaches, parks, and cultural events. The City is engaged in assisting in community and economic
development and maintains land use controls.
Schools are provided by separate school districts, governed by elected school boards. A portion of the
City is served by the Skokie Park District. Wastewater treatment is provided by the Metropolitan Water
Reclamation District.
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Budget Process: The City's fiscal year begins on March I of each year. The City Manager submits to
the City Council a proposed operating budget in December for the fiscal year commencing the
following March 1. The operating budget includes proposed expenditures and the means of financing
those expenditures. The City Council holds public hearings (several Saturday morning public hearings
were held prior to adoption of the 2008/09 budget) and then may modify the budget prior to adoption.
The City Manager is authorized to transfer budgeted amounts between departments within any fund
(such as the General Fund); however, any revisions that alter the total expenditures of any fund must be
approved by the City Council.
Budgets are legally adopted on a basis consistent with accounting principles generally accepted in the
United States of America except that 1) property taxes are budgeted as revenue in the year for which
they are levied; 2) debt service payments are budgeted upon tax levy for such purposes, and 3)
encumbrances are recorded as the equivalent of an expenditure for budget purposes. For purposes of
preparing the General Fund schedule of revenues— budget and actual, GAAP revenue and expenditures
have been adjusted to the budgetary basis. The budgets of the governmental type funds are prepared on
a modified accrual basis. Debt service payments and a number of specific accrued liabilities are only
recognized as expenditures when payment is due, and revenue is recognized only when it has actually
been received. The Comprehensive Annual Financial Report of the City (CAFR) presents expenditures
and revenues on both a GAAP basis and a budget basis for comparison.
The City uses funds to report on its financial position and the results of its operations. Fund accounting
is designated to demonstrate legal compliance and to aid financial management by segregating
transactions related to certain City functions or activities. A fund is a separate, self -balancing
accounting entity. In the City, there are three categories of funds: governmental, proprietary, and
fiduciary. Governmental funds are used to account for all or most of the City's general activities,
including the collection and disbursement of earmarked monies (special revenue funds), the acquisition
or construction of general fixed assets (capital project funds), and the servicing of general long-term
debt (debt service funds). The General Fund is used to account for all activities of the City not
accounted for in some other fund. In the fiscal year 2008/2009, the City projects that 42.9% (94.1
million) of all City expenditures will occur in the General Fund. Other major funds include the
Washington National Tax Increment District Fund, the Water Fund, and the Sewer Fund.
The Enterprise Funds (Water and Sewer) are operated and budgeted on a full accrual basis.
Expenditures are recognized when a commitment is made (through a purchase order), and revenues are
recognized when they are obligated to the City (for example, water user fees are recognized as revenue
when bills are produced).
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Financial Control Procedures: The City reports financial results based on generally accepted
accounting principles as promulgated by the Governmental Accounting Standards Board. The accounts
of the City are divided into separate self -balancing funds comprised of its assets, liabilities, fund equity,
revenues, and expenditures, as appropriate.
The City's expenditures are monitored on a regular basis by the Finance Department and Budget
Department. Disbursements are made only if expenditure is within the authorized appropriation. For
every major expenditure, a purchase order is prepared and approved and the related appropriation is
encumbered before a check is issued.
MAJOR INITIATIVES
Some major initiatives the City has undertaken during the fiscal year which the City believes will
ultimately improve the quality of life for its residents are as follow:
The Police Department purchased two PODS camera systems and is utilizing these cameras where
needed throughout the community. The cameras are placed high above the street on lamp or utility
poles.
The Parks/Forestry & Recreation Department has been awarded the following grants as of September
2007: a Local Arts Agency Program grant from the Illinois Arts Council; a Community Arts Access
grant from the Illinois Arts Council; a Summer Food Program grant from the U.S. Department of
Agriculture through the Illinois State Board of Education; a printing services grant from Allegra Print
and Imaging to produce Arts Week Evanston programs; Tennis in the Parks funding from United States
Tennis Association (USTA) and the National Parks and Recreation Association (NRPA) to assist with
reconstruction of the tennis courts at Mason Park; a donation from the Chicago Tennis Patrons
supportingjunior tennis programs; a grant from NRPA's Take Me Fishing initiative; and the Fvanston
Lighthouse Rotary Club funded scholarships to Evanston Ecology Center 2007 summer camps.
Parks/Forestry & Recreation increased teen special recreation program volunteers by 40 percent.
Enrollment in teen special recreation programs increased by approximately 20 percent.
The Medical Reserve Corps created by the Department of Health & human Services has been
established. This group, consisting of medical professionals who work or reside in Evanston, are willing
to assist the City in an emergency (e.g. accidents, infectious disease, or bioterrorist attack).
During FY 2008, construction on the final phases of the Long Range Sewer Improvement Program
continued. The remaining projects represent the final phase of the Long Range Sewer Improvement
Program and completion of the largest public works project ever undertaken by the City.
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In the Fire Department, all of the department paramedics went through Advanced Cardiac Life -Support
Training. In addition, the installation of mobile data computers, used for preplan information on
structures to the firefighters while responding to calls, has been completed.
In the Public Works Department, staff continued to produce results and deliver services at a high level.
Street resurfacing was completed on time and within budget. Both a 20 year multimodal transportation
and 10 year bridge plan were developed and the Ridge Avenue traffic signal project was completed.
In the City's main branch Library, the Children's Room and Young Adult Room were completed on
time and on budget.
In the Business Performance and Technology Division, staff continued to implement technologies that
expand the capability of citizens to interact with the City in an electronic fashion such as paying bills
online.
The City of Fvanston's Finance Department did an advance and current refunding of the City's 1999
and 1997 general obligation bonds for a total net present value savings of approximately $858,000, thus
reducing the City's debt payments.
FACTORS AFFECTING FINANCIAL CONDITION
The following are factors which give a broader context to the financial information contained in this
CAFR report.
Local Economy: The local economy continues experiencing a slowdown in the housing market, while
retail sales continue to be steady compared to the previous year. As the national economy improves,
the City anticipates a gradual and consistent increase in revenues as well.
The City continues to have a five-year Capital Improvements Program with planned improvements of
$143,834,074 over the next five years.
Risk Management: The City has changed its management approach to risk management and has in
place third -party administration of its liability and workers' compensation claims. Additionally, more
staff and resources are being dedicated to internal risk management. The City has also settled the
majority of its largest outstanding lawsuits from previous years and liability estimates are currently very
low.
Pension and Other Post retirement Benefits: 'The City sponsors a single -employer defined benefit
pension plan for both its police and firefighters. Each year, an independent actuary engaged by the City
calculates the amount of the annual contribution that the City must make to the pension plan to ensure
that the plan will be able to fully meet its obligations to retired employees on a timely basis. As a
matter of Budget Policy, the City fully funds each year's annual required contribution to the pension
plans as determined by the actuary.
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The City also provides pension benefits for its non-public safety employees. The benefits are provided
through a state-wide plan managed by the Illinois Municipal Retirement Plan (IMRF). The City has
fully funded this plan.
AWARDS AND ACKNOWLEDGMENTS
The Government Finance Officers Association (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City for its comprehensive annual financial report for the fiscal
year ended February 28, 2007. In order to be awarded a Certificate of Achievement, the government
published an easily readable and efficiently organized comprehensive annual financial report. This
report satisfied both generally accepted accounting principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
comprehensive annual financial report continues to meet the Certificate of Achievement Program's
requirements and we are submitting it to the GFOA to determine its eligibility for another certificate.
In addition, the City also received the GFOA's Award for Distinguished Budget Presentation for its
annual appropriated March 1, 2007 budget. In order to qualify for the Distinguished Budget
Presentation Award, the government's budget document was judged to be proficient in several
categories, including policy documentation, financial planning, and organization.
We acknowledge the contributions and excellent work of Hitesh Desai, the newly hired Accounting
Manager, along with Raye Janousek, Rom Chmara and Andy Villamin in the Accounting Division in
preparing the financial statements. Appreciation is also extended to all other Finance and City Staff who
contributed to the preparation of this report. We also extend thanks to the Mayor's Office and Members
of City Council for their interest and support in planning and conducting the City's financial affairs.
Respectfully submitted,
Rolanda B. Russell
Interim City Manager
�iteven E. Drazner
Acting Finance Director
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Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of Evanston
Illinois
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
February 29, 2007
A Certificate of Achievement for Excellence in Financial
Repoiting is presented by the Goveamnent Finance Officers
Association of the United States and Canada to
government units and public employee retirennent
systems whose comprehensive annual financial
reports (CAFRs) achieve the highest
standards in governnnent accounting
and financial repo Ong.
1 ST SI
Uf`RO RS }<
ca'uw President
Executive Director
xiv
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FINANCIAL SECTION
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INDEPENDENT AUDITORS' REPORT
ON THE FINANCIAL STATEMENTS
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R
VirchowKrause
company
INDEPENDENT AUDITORS' REPORT
To Honorable Lorraine H. Morton, Mayor and
Members of the City Council
Evanston, Illinois
We have audited the accompanying financial statements of the governmental activities, the business -type
activities, each major fund, and the aggregate remaining fund information of the City of Evanston, Illinois,
as of and for the year ended February 29, 2008, which collectively comprise the City of Evanston's basic
financial statements as listed in the table of contents. These financial statements are the responsibility of
the City of Evanston's management. Our responsibility is to express opinions on these financial
statements based on our audit. We did not audit the financial statements of the Township of Evanston,
which represent 0.8 percent, 1.5 percent, and 1.1 percent, respectively, of the assets, net assets, and
revenues of the governmental activities and 0.9 percent, 0.7 percent, and 2.1 percent, respectively, of the
assets, fund balances, and revenues of the aggregate remaining fund information. Those financial
statements were audited by other auditors whose report thereon has been furnished to us, and our
opinion, insofar as it relates to the amounts included for the Township of Evanston, is based on the report
of other auditors.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America and the standards applicable to financial audits contained in Government Auditing Standards,
issued by the Comptroller General of the United States. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts
and disclosures in the financial statements. The financial statements of the Township of Evanston were
not audited in accordance with Government Auditina Standards. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the
overall financial statement presentation. We believe that our audit and the report of other auditors
provides a reasonable basis for our opinions.
In our opinion, based on our audit and the report of other auditors, the financial statements referred to
above present fairly, in all material respects, the respective financial position of the governmental
activities, the business -type activities, each major fund, and the aggregate remaining fund information of
the City of Evanston, Illinois as of February 29, 2008, and the respective changes in financial position,
and, where applicable, cash flows thereof for the year then ended in conformity with accounting principles
generally accepted in the United States of America.
As described in Note 9 H., the city adopted the provisions of GASB Statement No. 45, Accounting
and Financial Reporting for Postemployment Benefits Other than Pensions, effective March 1,
2007.
In accordance with Government Auditina Standards, we have also issued a report dated September 24,
2008 on our consideration of City of Evanston's internal control over financial reporting and on our tests of
its compliance with certain provisions of laws, regulations, contracts and grant agreements and other
matters. The purpose of that report is to describe the scope of our testing of internal control over financial
reporting and compliance and the results of that testing, and not to provide an opinion on the internal
control over financial reporting or on compliance. That report is an integral part of an audit performed in
Virehow, Krause & Company, LLP
Certified Public Accountants & Consultants • An Independent Member of Baker Tilly International
To Honorable Lorraine H. Morton, Mayor and
Members of the City Council
Evanston, Illinois
accordance with Government Auditing Standards and should be considered in assessing the results of
our audit.
The management's discussion and analysis, the historical pension information and the budgetary
comparison schedules as listed in the table of contents are not a required part of the basic financial
statements but are supplementary information required by accounting principles generally accepted in the
United States of America. We and the other auditors have applied certain limited procedures, which
consisted principally of inquiries of management regarding the methods of measurement and
presentation of the required supplementary information. However, we did not audit the information and
express no opinion on it.
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively
comprise the City of Evanston's basic financial statements. The introductory section, combining and
individual nonmajor fund financial statements, and statistical section are presented for purposes of
additional analysis and are not a required part of the basic financial statements. The combining and
individual nonmajor fund financial statements have been subjected to the auditing procedures applied by
us and the other auditors in the audit of the basic financial statements and, in our opinion, based on our
audit and the report of other auditors, are fairly stated in all material respects in relation to the basic
financial statements taken as a whole. We also have previously audited, in accordance with auditing
standards generally accepted in the United States of America, the City of Evanston's basic financial
statements for the year ended February 28, 2007, which are not presented with the accompanying
financial statements. In our report dated August 27, 2007, we expressed unqualified opinions on the
respective financial statements of the governmental activities, the business -type activities, each major
fund, and the aggregate remaining fund information of the primary government of the City of Evanston,
Illinois In our opinion, the 2007 amounts reported in the schedules are fairly stated in all material
respects in relation to the basic financial statements for the year ended February 28, 2007, taken as a
whole. The introductory section and statistical section have not been subjected to the auditing
procedures applied in the audit of the basic financial statements and, accordingly, we express no opinion
on them.
/ lz� Cirw2c,w� L.,L
Oak Brook, Illinois
September 24, 2008
-2-
MANAGEMENT'S
DISCUSSION AND ANALYSIS
FEBRUARY 29, 2008
The City of Evanston (the City) discussion and analysis is designed to (1) assist the reader in focusing on significant
financial issues, (2) provide an overview of the City's financial activity, (3) identify changes in the City's financial position
(its ability to address the next and subsequent year challenges), (4) identify any material deviations front the financial plan
(the approved budget), and (5) identify individual fund issues or concerns. We encourage readers to consider the
information presented here in conjunction with additional information that we have furnished in our letter of transmittal,
which can be found on page vii of this report.
FINANCIAL HIGHLIGHTS
A. The City's net assets increased by $9,951,215 (or 3.9%) from the prior fiscal year reported (FY 2007). The
governmental net assets decreased by $3,396,810 (or 3.9% from FY 2007) and the business -type activities net assets
increased by $13,348,025 (or 7.8% from FY 2007).
13. The governmental activities revenue increased by $2,313,688 (or 1.8%) front the prior year. The expenditures
increased by $6,544,766 (or 5.4%).
C. The business -type activities revenue increased by $1,595,064 (or 4.7%). The expenditures increased by $1,143,513
(or 4.4%) from the prior year.
D. The total cost of all City programs increased by $7,688,281 or 5.2%.
E. The City of Fvanston issued general obligation debt in the amount of $30,385,000 during the current fiscal year. Of
this amount, $15,555,000 was used to fully and partially refund previous issues with the balance used to fund various
capital improvement projects.
USING THIS ANNUAL REPORT
The financial statement's focus is on both the City as a whole (government -wide) and on the major individual funds. Both
perspectives (government -wide and major fund) allow the user to address relevant questions, broaden a basis for
comparison, and enhance the City's accountability.
The City's financial reporting includes the funds of the City (primary government) and, additionally, organizations for
which the City is accountable (component units - the Township). 'rile Evanston Township Board of Trustees are the same
individuals as the City Council members. The Township is blended into the primary government for financial reporting
proposes.
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REPORTING THE CITY AS A WHOLE
Government -wide Financial Statements
The City's annual report includes two government -wide financial statements. "These statements provide both long-
term and short-term information about the City's overall status. Financial reporting at this level uses a perspective similar
to that found in the private sector with its basis in full accrual accounting and elimination or reclassification of internal
activities.
The first of these government -wide statements is the Statement of Net Assets This is the City-wide statement of financial
position presenting information that includes all the City's assets and liabilities, with the difference reported as ncl assets.
Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position of the City
as a whole is improving or deteriorating. Evaluation of the overall health of the City would extend to other non -financial
factors such as diversification of the taxpayer base or the condition of City infrastructure, in addition to the financial
information provided in this report.
The second government -wide statement is the Statement gfActivities which reports how the City's net assets changed
during the current fiscal year. All current year revenues and expenses are included regardless of when the cash was
received or paid. An important purpose of the design of the statement of activities is to show the financial reliance of the
City's distinct activities or functions on revenues provided by the City's taxpayers.
Both government -wide financial statements distinguish governmental activities of the City that are principally supported by
taxes and intergovernmental revenues, such as grants, from business -type activities that are intended to recover all or a
significant portion of their costs through user fees and charges. Governmental activitics include general government, public
safety, public service, fleet service, insurance fund, and culture and recreation. Business -type activities include water and
sewer utilities, parking, and garages. Fiduciary activities, such as employee pension plans and agency funds, are not
included in the government -wide statements since these assets are not available to fund City programs.
'rile government -wide financial statements are. presented on pages 11 - 14 of this report.
REPORTING THE CITY'S MOST SIGNIFICANT FUNDS
Fund Financial Statements
A fund is an accountability unit used to maintain control over resources segregated for specific activities or objectives.
The City uses funds to ensure and demonstrate compliance with finance -related laws and regulations. Within the basic
financial statements, fund financial statements focus on the City's most significant funds, rather than the City as a whole.
Major funds are separately reported, while all others are combined into a single, aggregated presentation. Individual fund
data for nonmajor funds is provided in the form of combining schedules in a later section of this report.
The City has three kinds of funds:
Governmenful finds are reported in the fund financial statements and encompass essentially the same functions reported as
governmental activities in the government -wide financial statements. However, the focus is very different with fund
statements, providing a distinctive view of the City's governmental funds. These statements report short-term fiscal
accountability focusing on the use of spendable resources and balances of spendable resources available at the end of tine
year. They are useful in evaluating annual financing requirements of governmental programs and the commitment of
spendable resources for the near -terns.
-4-
Since the government -wide focus includes the long-term view, comparisons between these two perspectives may provide
insight into the long-term impact of the short-term financing decision. Both the governmental fund balance sheet and the
governmental fund statement of revenues, expenditures, and changes in fund balances provide a reconciliation to assist in
understanding the differences between these two perspectives.
Budgetary comparison statements are included in the basic financial statements for the general fund and major special
revenue fund. Budgetary comparison schedules for the other special revenue funds and the debt service fund can be found
in a later section of this report. These statements and schedules dennonstrate compliance with the City's adopted and final
revised budget.
The basic government fund financial statements are presented on pages 15 - 16 of this report
Prnprietaryfimds reported in the fund financial statements generally report services for which the City charges customers a
fee. There are two kinds of proprietary funds. These are enterprise funds and internal service funds. Enterprise funds
essentially encompass the same functions reported as business -type activities in the government -wide statements. Services
such as the water utilities and the parking garages, are provided to customers external to the City organization. Internal
service funds provide services and charge fees to customers within the City organization, such as equipment services (repair
and maintenance of city vehicles) and the insurance fund. Because the City's internal service funds primarily serve
governmental functions, they are included within the governmental activities of the government -wide financial statements.
Proprietary fund statements and statements for discretely presented component units (reporting is similar to proprietary
funds) provide both long-term and short-term financial information consistent with the focus provided by the government -
wide financial statements but with more detail for the Water Fund and the Township. Individual fund information for
internal service funds and nonmajor enterprise funds is found in combining schedules in a later section of this report.
The basic proprietary fund financial statements are presented on pages 18 - 22 of this report
Fiduciary funds such as the employee pension plans are reported in the fiduciary fund financial statements, but are
excluded from the government -wide reporting. Fiduciary fund financial statements report resources that are not available to
fund City programs. Fiduciay fund financial statements report similarly to proprietary funds.
The basic fiduciary fund financial statements are presented on pages 23 - 24 of this report.
Armes to the financial.stalements
The accompanying notes to financial statements provide information essential to a full understanding of the
government -wide and fund financial statements. The notes to the financial statements begin on page 28 of this report.
Other information
In addition to the basic financial statements and accompanying notes, this report also presents certain required
supplementary information concerning the City's progress in funding its obligations to provide pension benefits to its
employees. Other supplementary information includes detail by fund and component unit for receivables, payables,
transfers, and payments within the reporting entity. Required supplementary information can be found on pages 90 - 93 of
this report.
Major funds and component units are reported in the basic financial statements, as discussed. Combining and individual
statements and schedules for nonmajor and internal service funds are presented in a subsequent section of this report
beginning on page 94. Additional information on capital assets and long-term debt can be found on page 48 and 59
respectively.
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Financial Analysis of the City as a Whole
The City's combined net assets increased by $9,951,215 from FY 2007 - an increase from $257,750,163 to $267,701,378.
Current and Other Assets
Capital Assets
Total Assets
Long -Term Liabilities
Other Liabilities
Total Liabilities
Net Assets
Investment in Capital
assets, net of Debt
Restricted
Unrestricted
Total Net Assets
STATEMENT OF NET ASSETS
Governmental Activities
2008 2007
$136,51092 $127,933,655
146,761,654 141,126,725
283,280,446 269,060,380
158303,507 I28,384,631
41,635,685 54,337,685
200,339,192 192,722,316
Business -type Activities
2008
2007
$33,165,483
$36,316,607
328,070,154
319,760,048
361,235,637
356,076,655
173,360,998
156,668,520
3,114,515
27,996,036
176,475,513
184,664,556
Total Primary Government
2008 2007
$169,684,275 $164250,262
474,831,808 460,886,773
644,516,083 625,137,035
332,064,505 285,053,151
44,750,200 82333,721
376,814,705 367,386,872
31,541 654
31,132,837
159,184,804
140,621,172
190,726,458
171,754,009
23,168,727
27,444 436
1,996,369
9,373,730
25,155,096
36,818,166
28,230,873
27,760,791
23,588,951
21 A 17,197
51,819,824
49,177,988
$82,941,254
$86,338,064
$184,760,124
$171,412,099
$267,701,378
$257,750,163
The City's total revenues increased by $3,908,752 or 2.4%. The City's total expenditures for all programs increased by
$7,688,281, or 5.2%. Governmental activity total revenue increased $2,313,688 primarily due to much better than
anticipated building permit revenue and charges for services. Expenditures in the governmental activities increased by
$6,544,766, materially greater than the increase in revenues. Expenditure increases were primarily due to increased costs
incurred by Public Works, Public Safety, and Recreation Departments. The revenue for business -type funds slightly
increased by $1,595,064 from charges for services while expenditures also increased by $1,143,515 due to the Sherman
Garage Fund.
Governmental funds The governmental activities experienced a net fund balance decrease of $3,396,810. This was
mainly due to an increase in the transfers out to business type funds of $4,500,000.
Business funds: The business -type activity fund balance experienced an increase in net assets of $13,348,025. This is
primarily due to an annual surplus in the Sewer and Maple Garage Funds of $5,543,773 and $4,677,255, respectively.
The following table provides a summary of the City's changes in net assets:
STATEMENT OF CHANGES IN NET ASSETS
Governmental Activities Business -type Activities Total Primary Government 1
2008 2007 2008 2007 2008 2007 1
Revenue
Program Revenues
Charges for services
$31,678,323
$26,762,844
$33,940,877
$32,288,616
$65,619,200
$59,051,460
Operating grants and
contributions
5,982,191
3,678,555
5,982,191
3,678,555
Capital grants and
contributions
117,569
195,076
117,569
185,076
General Revenues:
Sales taxes
16,172,072
14,386,432
16,172,072
14,386,432
Property taxes
48,360,339
61,992,603
48,360,i38
61,982,603
Utility taxes
8,537,098
8,108,008
8,537,098
8,108,008
Othertaxes
15,948,537
9,179,229
15,848,537
9,179,229
Investment income
3b52,684
3,752,377
1,286,823
1,344,020
4,939,507
5,090,397
Total Revenue
130,349,812
128,035,124
35.227,700
33,632,636
105,576,512
161,667,760
Expenses
General management and
Support
20,072,484
19,950,559
20,072,484
19,950,558
Public safety
48,762,564
46,368,286
48,762,564
46,368,286
Public works
21,566,199
16,504,737
21,566, 199
16,504,737
Health and human
resources development
4,982,385
6,107,S14
4,982,385
6,107,514
Recreation and cultural
Opportunities
20,634,114
18,303,273
20,634,114
18,303,273
Housing and economic
development
7,090,110
7,924,011
7,090,110
7,924,011
Interest
5,521,827
6,926,539
5,521,827
6,926,538
Water
8,668,290
8,779,360
8,668,290
8,778,360
Sewer
9,972,020
9587,903
81972,020
9,587,903
Sherman garage
4,269,860
1,613,186
4,269,860
1,613,186
Maple avenue garage
2,682,440
2,910,151
2,682,440
2,910,151
Motor vehicle parking
System
2,403,004
2,962,499
2,403,004
2,962,499
Total Expense
12U29,683
122,094,917
26,995,614
25,952,099
155,625,297
147,937,016
Increase in net assets before
transfer
1,719,129
5,950,207
8,232,086
7,780,537
9,951,215
13,730,744
Transfers
(5.115939)
(615,940)
5,1)5,939
615,940
Increase in net assets
(3.396,810)
5,334,267
13,348.025
8,396,477
9,951 215
13,730,744
Net Assets - Beginning
80,338,064
81,003,797
I71,412,099
163,015 622
257,750,163
244,019,419
Net Assets - Ending
$82,941,254
$86,338,064
$184,760,124
$171,412,099
$267,701,379
$257,750,163
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Financial Analysis of the City's Funds
Governmental Funds
As discussed, governmental funds are reported in the fund statement with a short-term, inflow and outflow of spendable
resources focus. This information is useful in assessing resources available at the end of the year in comparison with
upcoming financing requirements. Governmental funds reported ending fund balances of $87,955,607 as a year-end total,
including $26,062,996 unrestricted, indicating availability for continuing City service requirements. Reserved fund
balances in the General Fund total $1,107,516 and Unreserved designated fund balances total $5,426,091 including
$2,590,000 for IMRF, $2,576,360 for Compensated absences and $259,731 for Capital projects.
Major GOVenVillneHlal Plaids
The General Fund is the City's printagi operating fund and the largest source of day-to-day service delivery. The fund
balance of the General Fund decreased by $245,650. Some revenues that came in better than budget were building/right of
way permits, cable franchise fees, state income tax, sales tax, fines, and charges for services. Departments in which
expenditures materially exceeded budget include Human Resources, Police, Fire, Streets, and Health & Human Services.
The Capital improvements fund accounts for the City's Capital improvement program. The program includes improvements
to public buildings, paving of City streets, improvement and development of recreation facilities and other improvements.
The fund balance of the Capital improvements fund increased by $1,850,528.
Combined Non -Major Governmenful Funds
Combined non -major fund balances totaled $48,095,526, a decrease of $1,135,748 from prior year of $49,231,274. Non -
major funds with materially annual surpluses include Economic Development, E-911, Affordable I lousing, I TOME, CDBG,
Township, Howard Hartrey TIF, and Washington National Debt TIP. Non -major funds with materially annual deficits
included the Motor Fuel, Mayor's Special blousing, Debt Service, Central Business TIF, Southwest TIF, and Washington
National CIP TIF. Capital Improvement Project Fund has been reclassified from non -major to a major fund.
Proprietary Funds
The proprietary fund statements share the same focus as the government -wide statements, reporting both short-term and
long-term information about financial status.
The main proprietary funds operated by the City are the Water, Sewer, and Sherman Garage Funds, whereas the non -major
proprietary funds include the Maple Garage and Parking Funds. The three major funds had a solid year financially with a
total fund balance increase of $8,412,448. Although fund balances in these major proprietary funds showed a healthy
increase, it is important to keep in mind that these Funds carry a heavy debt level and therefore, large debt payments will be
required in the future. The non -major proprietary Maple Garage and Motor Vehicle Parking Funds also had increases in
fund balance as well, but the primary reason for the increase in Maple Garage was from a interfund transfer in from the
Central Business TIF Fund.
Internal Service Funrls
The City's combined internal service funds net assets were $6,772,702 as of February 29, 2008. At March 1, 2007, the
combined funds had a balance of $6,473,195.
General Fund Budgetary Highlights
The original budgets for the General Fund did require an amendment to the appropriations in the amount of $2,087,500.
Actual expenditures in the General Fund were over budget primarily due to early retirement accrual payouts, health
insurance, FICA/Medicare, overtime in Police and Public Works, and salt expenditures due to a harsh winter season.
Capital Assets
The City established a policy of capitalizing equipment and vehicles with $20,000 or more in value and infrastructure and
building improvements with $100,000 or more in value. The City's investment in capital assets, net of accumulated
depreciation, for governmental and business -type activities, as of February 29, 2008, was $474,831,808. The total increase
in governmental funds and business type activity funds were $5,634,929 and $8,310,106 respectively. The overall percent
increase in capital assets was 2.97% for the City as a whole. Major capital asset increases during the current fiscal year
were primarily attributed to capitalized construction in progress. Readers desiring more detailed information on capital
asset activity should see Note 6 in the Notes to the Financial Statements,
Long -Tern Debt
At the end of the fiscal year, the City had total general obligation bonded debt outstanding of $181,750,000, of which
$66,530,000 was for business type activities paid by the City's Parking, Sewer, Maple, and Sherman Garage Funds. During
the current year, the City issued $30385,000 in fixed rate general obligation bonds for various City capital project
requirements which also included a current refunding of series 1997 for $11,970,000 and a partial advance refunding of
series 1999 for $3,585,000. As a home rule government under Illinois law, there is no legal debt limit for the City. Readers
desiring more detailed information on long-term debt should see Note 9 in the Notes to the Financial Statements,
Bond Ratings
The City's general obligation bonds are rated Aal by Moody's Investor Rating Service and AAA by Fitch Ratings,
Evanston City Water Fund revenue bonds are rated Aal and AA for uninsured issues.
Econonvie Factors
Evanston is a diverse community consisting primarily of residential homes, several non profit organizations including a
very well known private university, and many smaller scale retail shops/restaw ants as well as some popular, big box
retailers. Sales tax receipts, a good indicator of economic health, came in slightly better than budget and was greater than
in the prior year. Other revenues which came in stronger than budget were building permit fees, fines, charges for services,
and various intergovernmental revenues.
The unemployment rate in Evanston increased slightly but was consistent with surrounding communities. The primary
employers in the City include universities, several not -for -profit organizations, and numerous retail businesses and
restaurants. Due to the high number of non profit organizations which make a large portion of Evanston's workforce, the
overall state of the economy may play less of a role related to employment as compared to communities containing a larger
number of for -profit businesses.
This page has been intentionally left blank.
Corrtacthrg the City'v Financial Management
This financial report is designed to provide a general overview of the City's finances, comply with finance -related laws and
regulations, and demonstrate the City's commitment to public accountability. If you have questions about this report or
would like to request additional information, contact the City Finance Department at the City of Evanston, 2100 Ridge
Avenue, Evanston, Illinois 60201 or access the website at www.citvofevanston.ora.
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BASIC FINANCIAL STATEMENTS
CITY OF EVANSTON, ILLINOIS
Statement of Net Assets
February 29, 2008
Assets
Cash and equivalents
Investments
Receivables (net, where applicable,
of allowances Rn uncollectibles)
Properly taxes
Accounts
Notes
Special assessments
Accrued interest
Other
Due from other governments
Internal balances
Inventories
Restricted assets
Cash and equivalents and investments
Capital assets
Capital assets not being depreciated
Construction in progress
Artwork
Capital assets (net of accumulated
depreciation)
Other assets
fatal Assets
The accompanying notes ate an integral part of this statement.
Primary Government
Governmental
Business -type
Activities
Activities
Total
52,765206 $
22,108,006 $
74,973,212
16.466,144
1 M0,000
17,466,144
46,488,292
-
46,488,292
3,498
4,156,452
4,159,950
6,047,186
-
6,047,186
1,087,014
-
1,087,014
48,496
46,989
95,485
1,980,773
29,043
2,009,816
7,101,694
-
7,101,694
4,139365
(4,139,365)
-
373,030
869,737
1,241,767
-
8,83L621
8,831,621
25,662,516
3.297,937
28,960,453
4,146,126
18,757,533
22,903,659
-
251,624
251,624
116,953,012
305,763,060
422,716,072
18,094
264,000
282.094
281280.446
361,235,637
644,516,083
Primary Government
Governmental
Business -type
Activities
Activities
'total
Liabilities
Vouchers payable $
3,376,519 $
913,022 $
4,289,541
Accrued payroll
2,016915
-
2,016 915
Interest payable
1,083.912
33,166
11117,078
Other payablcs
181.574
-
181,574
Due to other governnsnis
3,075
-
3,075
Due to pension funds
1721,435
-
3,721,435
Payable f -om restricted assets
Vouchers payable
-
1,155,045
1,155,045
Interest payable
-
1,013,282
1,013,282
Deferred revenues
31,252,255
-
31,252,255
Noncurrent liabilities
Payable from restricted assets - due
within one year
-
%924,224
9,924,224
Due within one year
18,192,102
10,075,292
28,267,394
Due in more than one year
14Q51 1,405
153361 A82
293,872,887
"Dotal Liabilities
200,339,192
176A75.513
376,814,705
Net Assets
Investment in capital assets, net of related debt
31,951,654
159,184,804
191,136,458
Restricted
Culture and recreation
945,810
-
945,810
Capital Improvements
-
800,000
800,000
Debt service
22,198,393
1,186,369
23384,762
Other
24,524
-
24,524
Unrestricted
27,820,873
23,588,951
51A09,824
'total Net Assets $
92,941,254 $
184,760,124 $
267,701.378
12-
CITY OF EVANSPON, ILLINOIS
Statement of Activities
Year ended February 29.2008
Functions/Proerams
Governmental activities:
General management and support
Public safety
Public works
Health and human resource development
Recreation and cultural opportunities
Housing and economic development
Interest
'Total governmental activities
Business -type activities:
Water
Sewer
Sherman garage
Maple avenue garage
Motor vehicle parking system
'Pohl business -type activities
Total
'Phe accompanying notes are an integral part of this statement
Program Revenues
Operating
Charges for
Grants and
Expenses
Services
Contributions
$ 20,072,484
$ 12639,171 $
-
48,762,564
1.842,859
265.283
21.566,199
2301,538
2,282,449
4,982,385
1.370.661
952,491
20,634,114
4.521.122
-
7,090,110
9,002,972
2,481.968
5.521,827
-
-
128,629,683
31,678,323
5.982.191
8.668,290
13,238,622
-
8,972.020
14,238,501
-
4,269.860
1,950,287
-
2,682,440
1,429,700
-
2,403,004
3,083,767
-
26.995,614
33,940,877
-
$ 155,625.297
$ 65.619.200 $
5,982,191
General revenues:
Property tax
Othertaxes
Personal property replacement tax
Sales and home rule tax
Income tax
Utility lax
Gain on sale of capital assets
Miscellaneous
Investment income
Fransfers
"Dotal general revenues
and transfers
Change in net assets
Net assets -beginning
Net assets - ending
13-
$
Net (Expense) Revenue and ChanCcs in Net Assets
Capital
Grants and
Governmental
Business -type
Contributions
Activities
Activities
Total
-
$ (7,433,313)
$ - $
(7A33,313)
-
(46,654A22)
-
(46.654.422)
-
(16,981212)
-
(16,981212)
117,569
(2,541,664)
-
(2,541.664)
-
(16,112,992)
-
(16,112,992)
-
4.394,830
-
4394,830
-
(5.521.827)
-
(5,521,827)
117,569
(90.851,600)
-
(90.851,600)
-
-
4.570.332
4,570,332
-
-
5,266,481
5.266,481
-
-
(2,319,573)
(2.319,573)
-
-
(1,252,740)
(1,252,740)
-
-
68M63
680,763
-
-
6,945,263
6,945.263
117,569
(90,851,600)
6,945,263
(83,906.337)
46,946,974
-
46,946.974
8,854,363
-
8,854.363
1,413,364
-
1,413,364
16.172,072
-
16,171072
6,827642
-
6,827,642
8,537;098
-
8,537,098
166,532
-
166;532
3,652,684
1.286.823
4,939,507
(5,115,939)
5,115.939
-
87,454.790
6,402,762
93,857,552
(3;396,810)
13.348,025
9,951.215
86338,064
171,412,099
257,750.163
$ 82,941,254
$ 184,760.124 $
262701,378
-14-
(ATV OF EVANS'1'ON, ILI,INOIS
Governmental funds
balance Sheet
I-ebmary 29, 2008
Nonnw,lor
1 olal
Capital
Governmental
Governmental
General Improvements
Funds
funds
Assets
Cash and equivalents $ 13,755277 $ 11,960,360
S 26,247,787
S 51,063,424
Investments 2,000,000 2,720,670
4,816 843
9,537,513
Receivables
]'Iopal 4' taxes (net of allowance) 15381,869 -
31,106,423
46,489,292
Accounts - -
3,498
3,498
Notes (net of allowance) - -
6,047,186
6,047,186
Special assessments - -
1,087,014
1,087,014
Accrued uneiest 17,929 18393
12,274
49,496
Other 1.709806 -
243,6o8
1,9S3,474
Building held for resale - -
410,000
410,000
Due G out other governments 6,846,587 33,373
221,734
7,101,694
Due front other funds 623,615 196,71)9
4,501260
5,321,674
Other assets 18,094 -
-
18,094
'Total Assets S 40,353,077 S 14,929,595
S 74,697,687
S 129,980,359
Liabilities and I,und Balances
Liabilities
Vouchers payable $ 1,737,365 $ 1015,037
$ 344,994
$ 3,097,396
Accrued payroll 2,016,915
-
2 016,915
Compensated ahsenccs payable 611,907 -
-
611,907
Other 178,694 -
2,880
181,574
Due to other governments - -
3,075
3,075
Due to other funds 186,480 1,992
4,673,158
4,SGI,630
Defer red revenues 9,674201 -
21,578,054
3125:255
I oral Liabilities 14,405562 1,017,029
26,602,161
42,024,752
Fund Balances
Reserved 1,107,516 -
29,329,490
30,43Z006
Reserved for l fUD Approved Plonects - -
410,000
410,000
Unreserved designated 5,426,091 13 912,566
11,706,948
31,045,605
Unreserved
Speu:d revenue funds - -
6,649,088
6,649,088
General find 19,413,908 -
-
19,413908
'food Fund Balances 25,947,515 13,912 566
48,095,526
87,955 607
Total Liabilities and Fund Balances $ 40,353,077 S 14 929,595
S 74,697,687
Amounts reported for governmental activities in the statement of net assets are different because
Lapital'avwts used In governmental activities are not financial reSOnIUS and, therefore,
are not reported In the funds
140,652,501
Long-term liabilities, Including bonds payable, compensated absences payable, and pension
Contributions p,iyallle, are not due and payable in the Current pet and and therefore, are not
reported In the goverrunenlal [finds
(151,059,057)
OPB13 liability payable Is not due and payable tit Ibe current period and therefore, Is not
reported In the governmental funds
(296,588)
interest acrrual from last intemst paymciat (December I, 2007 or,lanuary 1, 2008)
to February 29, 2008
(1,083911)
I be net assess of the internal service fund are Included in the governmental activities In the
statement of net assets
6,772 702
Net assets of governmental ae.lrvihes
S 82,941,254
I'he accompanying notes dre an mtcgral part of this statement
-15-
CITY OR EVANSTON, ILLINOIS
Governmental Funds
Statement of Revenues, Fxpendnures, and Changes in Fund Balances
Year ended February 29, 2008
Revenues
'razes $
1 wenses and permits
Special asscssncrus
Intergovernmental
Charges for services
Pines and forfeits
Investment income
Miscellaneous
Total Revenues
Expenditures
Current
General management and support
Public safety
Public works
I Icallh and human resource development
Recreation and cultural opportunities
I lousing and econonue development
Debt set vice
Principal
Interest
Fiscal agent fees
Capital outlay
7"oml Fxpendnures
Excess (Deficiency) of Revenues
Over (Under) Expenditures
Other Financing Sources (Uses)
"Pransfers in
Tianstcr:s out
Issuance of debt
Premiums and discounts
Escrow funding
'I"olal Other Financing Sources (I ]sea)
Net Change in Pond Balances
Fund Balances-Bcgimung of Year
Fund Balances - End of Year $
The accompanying notes are an integral part of this statement
General
42,893,729
10,275,694
17,582,733
7,732,399
4,660,258
623,965
2,998,910
96.767,588
15,396,084
32,460,477
16,176,198
4,182,385
19,191 253
3,486,934
Nonma)or
capital Governmental
lmmovancnls Funds
$ 32.872,849 $
520,239
400,000 4,641,812
867,191
1,206,409
2,473,600
1,436,1 16
562,118
709,910
515,428
- 11,669,480
89,893,331 14,893,052
(3,125,743) (12,419,452)
4,832,493 1,825,000
(1,952,400) (2,000,000)
14,115,000
329,980
2.880,093 14,269,980
(245,650) 1,850,528
26,193,165 12,062,038
25,947,515 $ 13 912,566 $
910,872
911,095
40,856,867
1,357,732
9,443 422
1,981,331
800,000
411,509
3,601,918
10,815,000
5,128,328
41,523
746,910
34,327,673
6,529,194
2,317,650
(I 1,391,772)
16,270,000
729,231
(15,590,051)
(7,664,942)
(1,135,748)
49,231,274
48,095,526 $
Total
Governmental
Funds
75,766,578
10,275,694
520,239
22,624,545
7,732,399
4,660,258
3,401,928
5.116.414
130,098,055
18,189,932
42,466,017
18,867,439
4,982,385
19,118,190
7,088,952
10,815,000
5,128,329
41,523
12,416.390
139,114,056
(9,016,001)
8,975,143
(15,344,172)
30,385,000
1,059,211
(15,594051)
9.485.131
469,130
87,486,477
87,955,607
16-
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CITY OF FVANSTON, ILLINOIS
Reconciliation of the Statement of Revenues, Hxpendilures, and Changes in Fund Balances
of Governmental Funds to the Statement of Activities
Year ended February 29.2008
Amounts reported for governmental activities in the statement of activities arc different because:
Net change in fund balances - total governmental funds $ 469,130
Governmental funds report capital outlays as expenditures. I lowever, in the statement of activities; the
cost of those assets is allocated over their estimated useful lives and reported as depreciation expense.
This is the amount by which capital outlays exceeded depreciation in the current period. 6321.525
'file repayment of the principal of long-term debt consumes the current financial resources of
governmental funds. These transactions, however, have no effect on net assets. 26.370,000
Issuance of 2007 Bonds provides current financial resources to governmental funds, while the repayment
of the principal of long term debt consumes the current financial resources of governmental funds. Neither
transaction has any effect on net assets. Governmental funds also report the effect of bonds premiums,
discounts, and similar items when debt is first issued. (31.098.368)
Sonic expenses reported in the statement of activities do not require the use of cunenl financial resources
and, therefore, are not reported as expenditures in governmental funds. (4378,105)
OPHB benefit expense reported in the statement of activities does not require the use of current financial
resources and. therefore, is not reported as expenditures in governmental funds. (296,588)
Interest acrrual fiom last interest payment (December 1, 2007 or January I, 2008) to February 29, 2008. (1,083,911)
Internal service funds are reported separately in the fund financial statements. 299.507
Change in net assets of governmental activities $ (3.396;810)
The accompanying notes are an intcglal pan oflhis slalcnlent
-17-
CITY OF EVANSTON, ILLINOIS
Piopnclary hunds
Statement of Net Assets
Febivary 29, 2008
Assets
Current Assets
Cash and equivalents
Investments
Rest cted cash and equivalents
and investments
Receivables
Accounts - billed
Accounts - unbdled
Accrued interest
Other
Inventories
1 otal Current Assets
Noncurrent Assets
Resuicted cash and equivalents
and Investment¢
Capital Assets
Land
Construction in progress
Artwork
Capital assets being depreciated
Less accumulated depreciation
'Dotal Capital Assets
Other Assets
Receivables
Notes
total Noncunenl Assets
Into] Assets
the accomprap,ng nacs arc an in Iq,,.1 pan ufda, emozia,ni
Business -type Acnviucs- Enterprise Funds
Governmental
Activities-
Nomnalor Internal
Sherman Proprietary Service
Water Sewer Gurnee Funde Total Funds
S 8,302,163 $ - S 7,230,452 S 6,566,391 $ 22,109,006 $ 801,782
- - - 1,000,000 1,000,000 6,928,631
6,593,651 - 6,593,651 -
961,425 305,923 - - 1,167,348 -
856067 2,133,037 - - 2989,104 -
26,051 10,541 - 10,397 46,999 -
20,419 - - 8,624 29,043 27,299
633 008 235,729 - - 868.737 373,030
10,099,133 9,279,991 7,239,452 7,595 412 34,802,878 8,130,742
2,237,970
-
-
-
2,237,970
-
555,415
-
-
2,742,522
3,297,937
-
3,4a6,358
15,201,175
-
-
18,757,533
-
-
-
251,624
-
251,624
-
63200,114
22US3,152
40,926,869
36883,470
361,063,605
19,968,930
(16856,157)
(28,727924)
(1,788,448)
(7,929,016)
(55,300,545)
(14,26Q777)
50,365,730
206,616,403
39,390,045
31,697,976
329,070,154
5699,153
-
-
-
264000
264,000
-
52,603,700
206,616,403
39,30,045
31961,976
330,572,124
5,699,153
63,302,833
215,895,284
46,629,497
39,547,388
365,375,002
13,829,895
m
Liabilities
Current Liabilities
Vouchers pavablc
Vouchers payable - restricted
INaest payable
Interest payable - restricted
Revenue bonds payable
Revenue bonds payable - restricted
Compensated absences payable
General obligation bonds payable
General obligation bonds payable - restricted
1 lnamortized hond expenses and discount
Clauns payable
Notes payable - Sewer IEPA Loans - restricted
Due to other funds
'Total Cu rent LwN lit tea
Long -'fern Lmbibties
Notes payable - Sewer IHPA Loans
General obligation bonds payable
OPF13 bahihty payable
Revenue bonds payable
Unannorlved bond expenses and discount
Clainns payable
"I otal Long-term Liabilities
Total Liabilities
Net Assets
Invested in capital assets, net of
related debt
Restricted for debt service
Restricted for capital improvements
Unrestricted
Total net assets
Business -tyre Activities- Enterprise Funds
Nonma)or
Sherman Noprebry
Water Sewer Gaiaae Funds
$ 520,108 S 171,600 S 134,070 $
148,116 1,006,929 -
19,485 994,797 -
425,000
85,000 - -
465,685 92,343 -
- - 4,340,000
- 2,305,000 -
7,534,224 -
149,078 1037,189 2,749,741
1810,472 13,142,082 7,223,811
Governmental
AcOvttjcs-
Internal
Service
Totals Funds
87,244 S
913,022 S
279,124
-
1,155,045
-
33,166
33,166
-
-
1,013,282
-
-
425,000
-
-
85,000
81324
639,352
101,620
4 675,000
9,015,000
-
-
2,305 000
-
(4,060)
(4,060)
-
-
-
3,34J 952
-
7,534,224
-
204,357
4,139,365
42,114
5,077,031
27,253,396
3,772 810
-
95,870,663
-
-
95,876,663
-
-
14060,000
39,325000
1,825,000
55,210,000
-
19,327
4,308
-
4,537
28,172
5,883
2,245,000
-
-
-
2,245,000
-
15,806
(14,159)
-
-
1,647
-
-
-
-
-
-
3,278,500
2,280,133
109,926812
39,325,000
1,829,537
153,361,482
3,284,383
4,090,605
123,068,894
46548,811
6,906,568
180,614,878
7,057,193
51,403048 86,854,675 (4,274,955) 25,202,036 159,184,804 5,699,153
1,186,369 - - - 1,186 369 -
800,000 - - - 800,000 -
5,822,811 5,971,715 4,355,041 7,438,784 23 599,451 1,073,549
$ 59,212,228 S 92826,390 $ 80,686 S 32640,920 $ 184,760,124 $ 6,772,702
lm
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CITY OF EVANSTON, ILLINOIS
Proprietary Funds
Combating Ling Statement of Revenues, Expenses, and Changes in fund Net Assets
Year ended February 29, 2008
Business -type Activities- Bnterptise Funds
Governmental
Activilics-
Nonma)or
Internal
Sherman
Proprietary
Service
Water
Sewer
Garage
Funds
Total
Funds
Operating Revenues
Charges for services
$ 12,791,917
$ 14,229,109
$ 1,950,287
$ 4,4M613
$ 33,431,926
$ 6,919,400
Miscellaneous
446,705
9.392
-
52,854
508,951
21,893
Total Operating Revenues
13,238,022
14,238,501
1,950,287
4,513,467
33,940,977
6.941,293
Operating Expenses Excluding Depreciation
Administration
668,969
1,732,334
-
514,963
2,916,266
-
Operations
6,469,097
449,038
1.350,016
3,210,454
11,478,595
7,511,917
Total Operating Expenses
Excluding Depreciation
7,138,056
2,181,372
1.350,016
3,725,417
14,394 961
7,511,917
Operating Income (Loss) Before Depreciation
6,100,566
12,057,129
600.271
788,050
19,546,016
(570,624)
Depreciation
1,405,617
3.086,647
1,023,172
888,794
6,404,230
1,397,026
Operating Income (Loss)
4,604,949
8,970,482
(422,901)
(100,744)
13,141,786
(1,967,650)
Nonoperating Revenues (Expenses)
Investment income
548,392
277,292
138,671
322,468
1,286,823
250,756
Interest expense
(125.746)
(3,698,723)
(1,896,672)
(464,917)
(6,186,058)
-
Bond expenses and amortization of discount
1,129
(5,278)
-
(6,316)
(10,465)
-
Gain (loss) on disposition of assets
-
-
-
-
-
16,401
Total Nonoperating Revenues (I xpenscs)
423,775
(3,426,709)
(1,758,001)
(148,765)
(4,909,700)
267,157
Income (Loss) before transfers and conhibutions
5,118,724
5,543.773
(2,180,902)
(249,509)
8,232,086
(1,700,493)
Capital Conti ibution -
Governmenlal Activities
-
-
251,624
495,286
746,910
-
Trinsfets In (Out)
Central Business Tax htcrement District fund
-
-
1,872,829
4,600,000
6,472,829
-
hnsutance)'und
(2,000,000)
-
-
-
(2,000,000)
-
Washington National'Tax Increment District Fund
-
-
500,000
-
500,000
-
CapnallinptovementPund
2,000,000
-
-
-
2,000,000
-
Waler Fund
-
-
-
-
-
2,000,000
Sewer Fund
-
-
-
-
-
-
Economic Development Fund
-
-
-
650,000
650,000
-
Gencral Fund
(2,693,600)
-
-
(560.200)
(3,253,800)
-
Total Transfers la (Out)
(2,693,600)
-
2,372,829
4,689,800
4,369,029
2,000,000
Change in Net Assets
2,425,124
5,543,773
443,551
4,935,577
13,349,025
299,507
Total Net Assets - Beginning of Year
56,787 104
97,282,017
(362,865)
27,705,243
171,412,099
6,473,195
'total Net Assets - End of Year
$ 59,212,228
$ 92,826,390
$ 80,686
$ 32,640,820
$ 184,760,124
$ 6.772,702
7 he accompanying notes are an integral part of tins statement
-20-
CITY OF EVANS'I-ON, ILLINOIS
fliopuctary Funds
scoli' lfnl ofC,i h Flows
Year ended f-ebt uap• 29, 2008
Cash Ilovs porn 01maung Activities
Recetpls boar amlonlets and users
Receipts ficar label fund set vices provided
payments to suppliers
Payamnts to employees
Payments for late, fiord set vices provided
Net Cash Prov,ded by (Used for) Operating Activities
Cash Floes fiom Noncapi al 1\aanclag Activities
'transfers In Not)
Cential Business 1'ax laciement District Fund
Insurance Fund
Washmgloo National Tax Inuenlent District fund
Capital haprovemcnt Fund
Water fund
Economic Development Fund
General Prod
Net Cash Provided by (Used for) Noucapital f,nanmag Activities
Cash Plows from Capital and Related Pulanung Activities
Sale of capital assets
Acquisition and construction of capital assets
Proceeds peal notes receivable
Principal pat, on revenue bonds
Interest paid on revenue bonds
Pnac,pal paid oil general obligation bonds
laciest paid oil general obligation bonds
Punc,pal paid on ]EPA loans
Intere,l paid oil ]EPA loans
Proceeds from (EPA loans
Net Cash (Used flat Capital and Related F,aaacmg Activities
Cash flows fiom Investing Activities
Purchase ofmvcsimeuls
Interest income
Net Cash Provided by Investing Activates
Net Increase (Decrease) ur Cash and Hlnrvalcnts
Cash and Rgmvalcas
13eganag of year
End of yca,
Reconciliation
Cash and equivalents
Carient Cash
Resti,cted Carcnt Cash
Unrestricted
Restucied Non C'n, rear Cash
The auompaaymy sate, me as uacyrnl pan of Ws sta se,,,
Eusmess-lilac Acttvilms- Fermi se Funds
Governmental
Activmes-
Nonmajor Ialmnal
Sherri.... Propuctary Service
Water Suwer Gaiaee Funds Total Funds
S 13,610,902 14204,198 S 1,950,297 S 4,520,831 S 34.286,218 S 7,061520
121,351 1,109,006 (726,992) 5,500 509,865 125,935
(6,328,996) (1,754,547) (1,357,507) (3,303,858) (12,744,908) (5,026,501)
(688,197) (1,746,601) - (520,921) (2,955,719) (1,589,992)
- - 3,476,327 193,545 3659,872
6,715,160 11,812,056 3341115 885,097 22754,428 570,962
1872829 4,600,000 6,472,829 -
(2,000,000) - - - (2,000,000) -
- - 500,000 - 500,000 -
2,000,000 - - -=000,000 -
(150,000 650,000 -
(2,69.3,600) - - (560,200) (7253,800) -
(2,69.3,600) - 2,372,829 4,689,800 4,369,029 2,000,000
- - 16,401
(3,306,577) (10 156,924) - (503,928) (13,967,429) (.300,429)
- 5,092,574 - 5,082,574 -
(485000) - - - (485,000) -
(128,713) - - - (128,713) -
(2,155,000) (3,610,000) (4,510,000) (10,295 000)
(1,040,619) (1,896,672) (464917) (3,402,208) -
(6;874,858) - - (6,87058) -
(2,658,104) - - (2,658,104)
10,794 824 - - 10,794,824 -
(3,920,290) 112090.6811 (424,098) (5,498,845) (21,933,914) (294,028)
548,392 277292 139,671
548,392 277,292 138,671
619,662 (1,331) 5,429,517
- - (2,100,756)
322,468 1286,823 250.756
322,468 1,286.823 (1,850,000)
399,520 6,476,366 416,934
9,890,471 6,594,994 1809,935 7,167871 25,463,26) 364,848
S 10,540,133 S 6,593,651 S 7,239,452 S 7.566,391 S 31939,627 S 801,782
S 8,302,163 $ - S 7,239,452 S 6,566,391 S 22,108,006 $ 801792
- 6,593 651 - - 6,593,651 -
- - - 1,000,000 1,000,000 -
2,237970 - - - 2237,970 -
S 10,540,133 S 6,593,651 S 7,239,452 F 7,566,391 S_31_939,627 S 801782
21-
Comaued
CITY OF EVANSTON, IIAANOIS
Proprietaryponds
Statement of Cash Moos - Continued
Year ended February 29, 2009
Reconciliation of Opermmg Income (Loos) to Net Cash Provided
by (Used fur) Operating Auntnes
Operating income (1oss)
Depreciation
Changes ur nascls and babelmes
hmrcawldeciease in A/R nnxelleneous
Other receivables
ACWnnIS receivable
luuA f and receivable
invcntoncs
Accrued interest receivable
Cmnpcnaated abwmv,
Acmned payroll
Accounts pay able
lnterfund payable
OP1.13 habihq, payable
Voucher s payable
Voucherspayable (jeslucled)
Interest payable Ueslncted)
Clauns payable
Net Cash Provided by (Used fop Operatnlg Activities
13nvnees-irpe Activities- Fnletpnse Funds
Nomna)or
Sbeuaau Ropnetary
Water Seer Oamee funds focal
Governmental
Acnvdies-
Iatcmal
Sc"u,c
Funds
$ 4694949 $ 8,970492 $ (422,901) $ (100,744) £ 13,141,786 S(1967,650)
1,405,617
3,086,647
1,023,172
888,794
6,404,230
1,397,026
-
-
-
-
-
8025
55,862
-
(7,175)
48,687
36,202
224889
(23,762)
-
5,000
206,127
121,351
1,109,006
(726,992)
5,500
508,865
125,935
(88,932)
119,772
-
-
30,840
(18,072)
91,529
(10,541)
-
9,539
90,527
-
14,680
8,875
-
8,477
52,032
18,147
(73,235)
(23,142)
-
(18,972)
(115,349)
(29,690)
-
-
-
-
(15259)
-
-
3476,327
183,545
3,659,872
-
19,327
4,309
-
4,537
28,172
5,883
159,242
(124,158)
(7491)
(85,248)
(58,655)
1,162
70,881
(UK516)
-
-
(1,223,635)
-
-
(10,915)
-
(8,156)
(19,071)
-
-
-
-
-
932,252
S 6,715,160 $
11,812;056 S
.3,342,115_
$
885,097 S
22,754,428 $
570,962
Capital Contribution
Capital contributions were made from governmental activities to the Sherman garage fund in the amount of $251,624 and Maple garage fund in the
amount of $495,286
"I he zocontp,nquny noes are an nncyral pun of this stntemcnt
22 -
CITY OF EVANSTON, ILLINOIS
Fiduciary Funds
Statement of Net Assets
February 29, 2008
Assets
Cash and short-term investments
Receivables
Accrued interest
Contribution receivable - Due from othcr funds
Total Receivables
Investments, at fair value
U.S. Governinent obligations
Common stock
Mutual funds
Total Investments
Total Assets
Liabilities
Vouchers payable
Due to special assessment bondholders
Total Liabilities
Net assets held in trust
'The accompanying notes arc an integral part of this statement
-23-
Pension Special Assessment
Trust Funds Agenev Fund
$ 7,633,080 $ 21,073
463,095
3,721,436
4,184,531 -
55,079,916 -
11,582,476 -
29,407,699 -
96,070,091 -
107,887,702 21,073
18,604 -
- 21,073
18,604 21,073
$ 107,869,098 $
CITY OF FVANSTON, ILLINOIS
Fiduciary Funds - Pension Trust Funds
Statement of Changes in Plan Net Assets
Year ended February 29, 2008
Pension
Trust Funds
Additions
Contributions
Employer
$ 8,489,281
Plan members
2,042,844
Total contributions
10,532,125
Investment income
Net change in
fair value of investments
(421,274)
Interest
3,871,995
Total investment income
3,450,721
I.ess investment expense
329,971
Net investment income
3,120,750
Total additions
13,652,875
Deductions
Benefits
11,278,855
Refunds of contributions
64,234
Administrative expense
63,795
Total deductions
11,406,884
Net increase
2,245,991
Net assets held in trust for pension benefits
Beginning of year 105,623,107
Hnd of year $ 107,869,098
'Ilie accompall)ong notes are an integral part of this Statement
-24-
This page has been intentionally left blank.
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Pace
Note 1. Summary of Significant Accounting Policies
A.
Reporting Entity
28
B.
Government -wide and Fund Financial Statements
29
C.
Fund Accounting
30
D.
Measurement Focus, Basis of Accounting, and Financial Statement Presentation
31
E.
Cash and Equivalents
34
F.
Investments
34
G.
Inventories
34
It.
Capital Assets
34
1.
Compensated Absences
35
J.
Long -Tenn Obligations
35
K.
Self -Insurance
36
L.
Property Taxes
36
M.
Fund Equity
37
N.
htterfund Transactions
37
O.
Use of Estimates
37
P.
Land held for resale
37
Note 2. Reconciliation of Government -wide and Fund Financial Statements
A. Explanation of Certain Differences between the Governmental Fund Balance
Sheet and the Government -wide Statement of Net Assets 38
B. Explanation of Certain Differences between the Governmental Fund Statement
of Revenues, Expenditures, and Changes in Fund Balances and the Government -
wide Statement of Activities 38
Note 3. Stewardship, Compliance, and Accountability
A. Budgetary Information 40
B. Deficit Fund Equity 42
Note 4. Deposits with Financial Institutions and Investments
A.
Types of Accounts and Securities
42
B.
Pooling of Cash and Investments
42
C.
Types of Investments
43
D.
Deposits
45
E.
Reconciliation of Unrestricted and Restricted Cash and Investments
45
-25-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Pau
(continued from previous page)
Note 5. Receivables
A. Sununary of Receivables 47
B. Notes Receivable -- Special Revenue Funds 47
Note 6. Capital Assets
A. Capital Asset Activity 48
B. Construction Commitments 50
Note 7.
Inter funds
A.
Interfund Accounts
51
B.
I nterfund '11 ansfers
55
C.
Capital Contribution
57
Note S.
Operating Leases
58
Note 9.
Long -Term Debt
A.
Changes in Long -Term Debt
59
B.
General Obligation Bonds Payable
62
C.
Special Service District Bonds Payable
64
D.
Revenue Bonds Payable
64
E.
Notes Payable- Sewer IEPA Loans
65
F.
Prior Years' General Obligation Bond Defeasances
65
G.
Prior Years' Special Service District 45 Bond Defeasances
66
11.
Post Employment benefits other than Pensions
67
Note 10. Fund Equity
A. Restrictions of Net Assets -Water Fund 70
B. Restricted Net Assets - Fiduciary Funds 70
C. Reservations of Fund Equity 71
D. Unrestricted Fund Equity - Designated 72
Note 11. Individual Fund Activities
A. General Obligation Debt Service Fund 73
B. Water Fund 73
C. Special Service Disti ict No. 4 73
Note 12. Risk Management. Claims and Judgments 74
Note 13. Subsequent Events 75
26-
CITY OF EVANSTON, ILLINOIS
Index for Notes to the Financial Statements
Page
(continued from previous page)
Note 14. Contingencies 75
Note 15, Joint Ventures
A. Northwestern University 75
B. Solid Waste Agency of Northern Cook County 76
C. Evanston Housing Corporation 78
Note 16. Deferred Compensation Plan 79
Note 17. Defined Benefit Pension Plans
Illinois Municipal Retirement Fund
A.
Plan Description
80
B.
Funding Status and Progress
80
C.
Annual Pension Cost
81
Police and Firefighters' Pension Plans
D.
Plan Descriptions
82
E.
Summary of Significant Accounting Policies
- Basis of Accounting
84
- Method Used to Value Investments
84
F.
Contributions and Reserves
84
G.
Concentration of Investments
86
It.
Three -Year Trend Information — Pension Trust Funds
86
1.
Pensions - Detailed Statement of Net Assets
87
J.
Pensions - Detailed Statement of Changes in Net Assets
88
K.
Pensions -Actuarial Valuations
89
-27-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTEI. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The financial statements of the City of Evanston (City) have been prepared in conformity with accounting
principles generally accepted in the United States of America as applied to governmental units (hereinafter
referred to as generally accepted accounting principles (GAAP)). The Governmental Accounting Standards
Board (GASB) is the accepted standard -setting body for establishing governmental accounting and financial
reporting principles.
The more significant of the City's accounting policies are described below.
A. Reporting Entity
The City was incorporated in 1863. The City operates under a Council -Manager form of government, is a
home yule municipality as defined by Illinois state law, and provides the following services as authorized by its
charter: general management and support, public safety, public works, health and human resource
development, recreational and cultural opportunities, and housing and economic development.
As required by GAAP, these financial statements present the City (the primary government) and its component
unit, an entity for which the City is considered to be financially accountable. Although the component unit is
legally a separate entity, it is governed by the same board; therefore, data from this unit is blended with data of
the City.
Blended Component Unit:
The Town of the City of Evanston, Illinois (Township) is a separate legal entity which administers General
Assistance, a public welfare program assigned by Illinois law to townships. Eligible clients receive General
Assistance for food, shelter, and medical needs. Through the town -fund levy, the Township also supports a
number of community action programs, which provide direct services to welfare recipients. The Township is
governed by a Township Board of Trustees and provides services within the same geographic boundaries of the
City. The 'Township Board of Frustees are the same individuals as the City Council. The Township board
levies taxes and is responsible for adopting the Township budget and approving payment of bills. The
Township has two elected officials: the Supervisor and the Assessor, each elected for four-year terms. The
Supervisor is responsible for Township funds and for the administration of General Assistance. The Assessor
does not actually assess property; that function is carried out by the Cook County Assessor. The Township
Assessor serves as a taxpayer's advocate, helping citizens with tax -related questions.
The Assessor also works to assure equity of assessments, and maintains records of building and demolition
permits and of all tax-exempt properties. The Township Board of Frustees can issue debt on its own behalf,
and such debt can be issued in the T'ownship's name alone.
28 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Eiscal Year Ending February 29. 2008
NOTE]. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
A. Reporting Entity - Continued
The Township is included in the Reporting Entity due to its financial accountability because the Township
Board of Trustees are the same individuals as the City Council members. The Township has a March 31 fiscal
year-end. Amounts included in this report are as of and for the year ended March 31, 2007. This report is the
most recent one available.
Complete financial statements for the Township may be obtained at the following address:
Town of the City of Evanston
1910 Main Street
Evanston, Illinois 60201
Joint ventures:
The City participates in three joint ventures, which are reported as nonequity governmental joint ventures and
are described in Footnote 15. The joint ventures are: City of Evanston and Northwestern University Research
Park; Solid Waste Agency of Northern Cook County (SWANCC); and Evanston I lousing Corporation.
B. Government -wide and Fund Financial Statements
The government -wide financial statements (i.e., the statement of net assets and the statement of activities)
report information on all of the nonfiduciary activities of the City. The effect of interfund activity has been
removed from these statements excluding interfund services provided. Governmental activities, which
normally are supported by taxes and intergovernmental revenues, are reported separately from business -type
activities, which rely to a significant extent on fees and charges for support.
The statement of activities demonstrates the degree to which the direct expenses of a given function or segment
are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function
or segment. Program revenues include 1) charges to customers or applicants who purchase, use, or directly
benefit from goods, services, or privileges provided by a given function or segment and 2) grants and
contributions that are restricted to meeting the operational or capital requirements of a particular function or
segment. Taxes and other items not properly included among program revenues are reported instead as
general revenues.
29 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE]. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
B. Government -wide and Fund Financial Statements - Continued
Separate financial statements are provided for governmental funds, proprietary funds, and fiduciary funds,
even though the latter are excluded font the government -wide financial statements. Major individual
governmental funds and major individual enterprise funds are reported as separate columns in the fund
financial statements. Nonmajor funds are reported in the supplementary information.
C. Fund Accounting
The City uses funds to report on its financial position and the results of its operations. A fund is a separate
accounting entity with a self -balancing set of accounts. Fund accounting is designed to demonstrate legal
compliance and to aid financial management by segregating transactions related to certain government
functions or activities.
Funds are classified into three categories: governmental, proprietary, and fiduciary. Each category, in turn, is
divided into separate "fund types."
Governmental funds are used to account for all or most of the City's general activities, including the collection
and disbursement of earmarked monies (special revenue funds), the acquisition or construction of general
capital assets (capital projects funds), and the servicing of general long-term debt (debt service funds). The
general fund is used to account for all activities of the City not accounted for in some other fund. All
Township funds are considered special revenue funds within the governmental funds category.
Proprietary funds are used to account for activities similar to those found in the private sector, where the
determination of net income is necessary or useful for sound financial administration. Goods or services from
such activities can be provided either to outside parties (enterprise funds) or to other departments or agencies
primarily within the City (internal service funds). Internal service funds are included with the governmental
funds on the government -wide financial statements.
Fiduciary funds are used to account for assets held on behalf of outside parties, including other governments, or
on behalf of other funds within the City. When these assets are held under the terms of a formal trust
agreement, a permanent fund is used. Agency funds generally are used to account for assets that the City holds
on behalf of others as their agent. The pension trust fund accounts for the activities of the Police and
Firefighters' Pension funds, which accumulate resources for pension benefit payments to retired police and fire
personnel.
30-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES —Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation
The government -wide financial statements are reported using the economic resources measurement focus and
the accrual basis of accounting, as are the proprietary fund statements. Revenues are recorded when earned
and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property
taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized
as revenue as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus
and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable
and available. Revenues are considered to be available when they are collectible within the current period or
soon enough thereafter to pay liabilities of the current period. For this purpose, the City considers property
taxes as available if they are collected within 60 days of the end of the current fiscal period. A six month
availability period is used for revenue recognition for all other governmental fund revenues. Expenditures
generally are recorded when a liability is incurred, as under accrual accounting. However, debt service
expenditures, as well as expenditures related to compensated absences, are recorded when payment is due or
when amounts have been accumulated in the debt service fund for payment to be made early in the following
year.
The following revenues associated with the current fiscal period are all considered to be susceptible to accrual
and so have been recognized as revenues of the current fiscal period.
Taxes
Fines
Property
Traffic fines
Sales (Home Rule)
Utility
Intergovernmental
Personal property
Motor fuel tax allotments
Grants
Supplemental Security Income reimbursements
Licenses
Income taxes
Sales taxes
Use tax
Franchise fees
Charges for services
Investment income
Recycling program fees and sales
31-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE L SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES —Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation - Continued
All other revenue items are considered to be measurable and available only when cash is received by the City.
The City reports the following major governmental funds:
The General Fund is the City's primary operating fund. It accounts for all financial resources of the
general government, except those required to be accounted for in another fund.
The C'almal 6nprovemenis Fund accounts for the City's capital improvement program. The program
includes improvement to public buildings, paving of City streets, improvement of recreational facilities
and other improvements.
Governmental funds report unearned revenue in connection with receivables for revenues that are not
considered to be available to liquidate liabilities of the current period.
The City reports the following major proprietary funds:
The Water Fend accounts for the provision of water services to the residents of the City and the sale of
water to the Village of Skokie, Illinois, and the Northwest Water Commission. All activities necessary
to provide such services are accounted for in this fund, including, but not limited to, administration,
operation, maintenance, financing and related debt service, and billing and collection.
The Seiner Fund accounts for the provision of sewer repair and improvement services to the residents
of the City. All activities necessary to provide such services are accounted for in this fund, including
administration, operations, financing, and billing and collection.
The Sherman Garage Fund accounts for the provision of the public and residential parking facility on
Sherman Avenue. All activities are accounted for including administration, operations, financing and
revenue collection.
Additionally, the City reports the following fund types:
Internal Service fords account for the fleet management and insurance services provided to other
departments or agencies of the government, or to other governments, on a cost reimbursement basis.
Pension Trust finds account for the activities of the Police and Firefighters' Pension Funds, which
accumulate resources for pension benefit payments to qualified public safety employees.
32-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year finding February 29, 2008
NOTEI. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES —Continued
D. Measurement Focus, Basis of Accounting, and Financial Statement Presentation — Continued
Agency ,funds account for the cash received from property owners on capital improvement special
assessments. Such amounts collected will be forwarded to bondholders. The City is not obligated in
any manner for this debt and is only acting as agent for the property owners.
The City's enterprise funds apply all applicable GASB pronouncements as well as relevant Financial
Accounting Standards Board (FASB) pronouncements issued on or before November 30, 1989, unless those
pronouncements conflict or contradict GASB pronouncements, in which case, GASB prevails.
As a general rule, the effect of interfund activity has been eliminated from the government -wide financial
statements.
Amounts reported as program revenues include 1) charges to customers for goods, services, or privileges
provided, 2) operating grants and contributions, and 3) capital grants and contributions, including assessments.
Internally dedicated resources are reported as general revenue rather than as program revenue. Likewise,
general revenues include all taxes.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues
and expenses generally result from providing services and producing and delivering goods in connection with a
proprietary fund's principal ongoing operations. The principal operating revenues of the enterprise funds and
of the City's internal service funds are charges to customers for sales and services. Operating expenses for
enterprise funds and internal service funds include the cost of sales and services, administrative expenses, and
depreciation on capital assets. All revenues and expenses not meeting this definition are reported as
nonoperating revenues and expenses.
When both restricted and unrestricted resources are available for use, it is the City's policy to use restricted
resources first, then unrestricted resources as they are needed.
The City reports unearned revenues on its government funds statements. Unearned revenues arise when a
potential revenue does not meet both the "measurable" and "available" criteria for recognition in the current
period. Unearned revenues also arise when resources are received by the City before it has a legal claim to
them, as when grant monies are received prior to the incurrence of qualifying expenditures. If subsequent
revenue recognition criteria are met, or when the City has a legal claim to the resources, the liability for
unearned revenue is removed from the combined balance sheet and the revenue is recognized.
33 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTEI. SUMMARY OF SIGNIFICANTACCOUNTINGPOLICIES—Continued
E. Cash and Equivalents
Cash and equivalents represent cash on hand, cash deposited in interest -bearing and noninterest-bearing
checking accounts, and investments in money markets, certificates of deposit, and treasury obligations with
maturities of three months or less at the date of acquisition, and cash deposited with the Illinois Funds.
F. Investments
Investments consist of certificates of deposit, treasury obligations, government agency obligations, and
insurance contracts with maturities greater than three months. Investments of the pension trust funds are
carried at fair value. Investments with over one year to maturity are reported at fair value. All other
investments are stated at cost or, for U.S. government securities, amortized cost. These securities may be
purchased at a premium or discount which is amortized over the life of the investment. This valuation method
approximates fair value.
G. Inventories
Inventories in the Water, Sewer, and Fleet Service Funds are valued at the lower of cost (first -in, first -out) or
market. Inventory amounts are recorded on the basis of a physical count.
14. Capital Assets
Capital assets, which include property, plant, and equipment and infiastructure assets (e.g. roads, sidewalks,
trails, bridges, and similar items), are reported in the applicable governmental or business -type activities
colunms in the government -wide financial statements. Capital assets are defined by the government as
equipment and vehicles with an initial, individual cost of more than $20,000, or infrastructure, buildings, or
building improvements with an initial, individual cost of more than $100,000. Such assets are recorded at
historical cost or estimated historical cost if purchased or constructed. Donated capital assets are recorded at
estimated fair market value at the date of donation.
The costs of normal maintenance and repairs that do not add to the value of the asset or materially extend
assets' lives are not capitalized. Infrastructure acquired prior to the February 28, 2003 implementation of
GASl3 34 has been reported.
Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest incurred
during the construction phase of capital assets of business -type activities is included as part of the capitalized
value of the assets constructed.
34 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES —Continued
IL Capital Assets - Continued
Property, plant, and equipment are depreciated using the straight-line method over the following estimated
useful lives:
Description
Land improvements
Leasehold improvements
Plant
Transmission and distribution
system
Sewer system and
underground lines
Parking meters
1. Compensated Absences
Years
Description
Years
10-100
Buildings and improvements
10-50
10-100
Office equipment and furniture
5-15
20-100
Machinery and equipment
5-15
Infrastructure
30-100
5-100
Library collections
7
75-100
15
It is the City's policy to permit employees to accumulate earned but unused vacation and sick pay benefits. All
payments due in the event of termination are accrued when incurred in the government -wide and proprietary
fund financial statements. The General Fund has been used in prior years to liquidate the liability for
compensated absences of governmental funds.
J. Long -Term Obligations
In the government -wide financial statements and proprietary fund types in the fund financial statements, long-
term debt and other long-term obligations are reported as liabilities in the applicable governmental activities,
business -type activities, or proprietary fund type statement of net assets. Bond premiums and discounts, as well
as issuance costs, are deferred and amortized over the life of the bonds. Bonds payable are reported net of the
applicable bond premium or discount. Bond issuance costs are reported as deferred charges and amortized
over the term of the related debt.
In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as
bond issuance costs, during the current period. The face amount of debt issued is reported as other financing
sources. Premiums received on debt issuances are reported as other financing sources, while discounts on debt
issuances are reported as other financing uses. Issuance costs, whether or not withheld from the actual debt
proceeds icecived, are reported as debt service expenditures.
35 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTEI. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
K. Self -Insurance
The City is self -insured to certain limits for general liability claims and for workers' compensation insurance.
A liability is recorded when it is probable that a loss has occurred and the amount of the loss can be reasonably
estimated. Claims liabilities are based on estimates of the ultimate cost of reported claims including future
claims adjustment expenses. General liability and workers' compensation claims are paid out of the Insurance
Fund.
L. Property Taxes
Property taxes are collected by the Cook County Collector and are remitted periodically to all taxing bodies,
including the City and Township. Distributions are made more often during the two main collection periods.
Property taxes are levied on a calendar year basis by passage of a tax levy ordinance.
The property tax calendar for Cook County is as follows:
Lien Date
Levy Date
First Installment Due Date
(one-half of prior bill)
Second Installment Due Date
(balance of total bill)
January 1 of Levy Year
December of Levy Year
March 1 of Year following Levy Year
August or September of Year following Levy Year
Property tax revenues are recognized when they become both measurable and available. On this basis, property
tax revenue includes all cash distributions of property tax received during the fiscal year between March 1,
2007 and February 29, 2008 and all property tax collections received within 60 days after the end ofthe fiscal
year.
The adjustment necessary to convert GAAP basis property tax revenues to budgetary basis is shown in the
notes to the required supplementary infounation in the section on Budgets and Budgetary Accounting.
The Town Fund and General Assistance Fund unearned revenue represents the net portion of the 2006 property
tax levy that will not be collected within 60 days of the Towmhipi s March 31, 2007 year-end. A 5% allowance
for loss is reflected in the'Fownship financial statements.
36-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE]. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -Continued
M. Fund Equity
In the fund financial statements, governmental funds report reservations of fund balance for amounts that are
not available for appropriation or are legally restricted by outside parties for use for a specific purpose.
Designations of fund balance represent management plans that are subject to change.
N. Interfund Transactions
Transactions that constitute reimbursements to a fund for expenditures/expenses initially made from it that are
properly applicable to another fund are recorded as expenditures/expenses in the reimbursing fund and as
reductions of expenditures/expenses in the fund that is reimbursed. All other interfund transactions are
reported as transfers.
O. Use of Estimates
)it preparing financial statements, management is required to make estimates and assumptions that affect the
reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the
financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual
results could differ front those estimates.
1'. Land field for Resale
In the Governmental Funds the cost of land held for resale is reported as an asset with increases and decreases
for purchases and sales.
37 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 2. RECONCILIATION OF GOVERNMENT -WIDE AND FUND FINANCIAL STATEMENTS
A. Explanation of Certain Differences between the Governmental Fund Balance Sheet and the
Government -wide Statement of Net Assets
The governmental fund balance sheet includes a reconciliation between fund balance - total governmental
funds and net assets —governmental activities as reported in the government -wide statement of net assets. One
element of that reconciliation explains that "Long-term liabilities, including bonds payable, compensated
absences payable, and pension contributions payable, are not due and payable in the current period and,
therefore, are not reported in the funds" The details of this $151,059,057 difference are as follows:
General obligation bonds payable
$ 115,220,000
Special service district bonds payable
2,785,000
Bonds premium liability
4,861,441
Compensated absences payable
9,749,998
Pension contributions payable
18,442,618
Net adjustments to reduce find balance —
total governmental funds to arrive at net
assets — governmental activities.
$ 151,059,057
B. Explanation of Certain Differences between
the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government -wide Statement of Activities
The government fund statement of revenues, expenditures, and changes in fund balances includes a
reconciliation between net changes in fund balances -total governnental funds and changes in net
assets of governmental activities as reported in the government -wide statement of activities. One
element of that reconciliation explains that "Governmental funds report capital outlays as
expenditures. However. in the statement of activities, the cost of those assets is allocated over their
estimated useful lives and reported as depreciation expense:" The details of this $6,321,525
difference are as follows:
Capital outlay $ 13,025,988
Depreciation expense (6,704,463)
Net adjustment to increase net changes in
fund balances - total governmental funds to
arrive at changes in net assets of
governmental activities $ 6,321,525
- 38 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 2. RECONCILIATION OF GOVERNMEN'r-WIDE AND FUND FINANCIAL STATEMENTS
— Continued
B. Explanation of Certain Differences between the Governmental Fund Statement of Revenues,
Expenditures, and Changes in Fund Balances and the Government -wide Statement of Activities -
Continued
2. Another element of that reconciliation states that "The repayment of the principal of long-term debt
consumes the current financial resources of governmental funds. These transactions, however,
have no effect on net assets." The details of this $26,370,000 difference are as follows:
Principal repayments
General obligation debt $ 26,085,000
SSD#5 Bond 285,000
Net adjustment to increase net changes in fund balances —
total governmental funds to arrive at changes in net assets
of governmental activities $ 26,370,000
3. Another element of that reconciliation states that "Some expenses reported in the statement of
activities do not require the use of current financial resources and, therefore, are not reported as
expenditures in governmental funds." The details of this ($4,378,105) difference are as follows:
Compensated absences
Amortization income
pension contributions
$ 64,592
379,621
(4,822,318)
Net adjustment to decrease net changes in fund balances -
total governmental funds to arrive at changes in net assets of
governmental activities $ (4,378,105)
4. Another element of that reconciliation states that 'Issuance of 2007 Bonds provides current
financial resources to governmental funds, while the repayment of the principal of long-term debt
consumes the current financial resources of governmental funds." The details of this ($31,098,368)
difference are as follows:
2007 Bond Series $ (30,385,000)
Bonds premium liability (713,368)
Net adjustment to decrease net changes in fund balances -
total governmental funds to arrive at changes in net assets of
governmental activities $ (31,098.368)
39-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY
A. Budgetary Information
The City follows these procedures in establishing the budgetary data reflected in the financial statements:
1. The City Manager submits to the City Council a proposed operating budget for the fiscal year
commencing the following March 1. The operating budget includes proposed expenditures and the
means of financing them.
2. Public budget hearings are conducted. Taxpayer comments are received and noted.
3. The budget is legally enacted through passage of a resolution.
4. The City Manager is authorized to transfer budgeted amounts between departments within any
fund; however, any revisions that alter the total expenditures of any fund must be approved by the
City Council. There were budget allocations within General fund but the total did not change.
5. Budgets are legally adopted on a basis consistent with GAAP except that (1) property taxes are
budgeted as revenue in the year they are levied, (2) debt service payments are budgeted upon tax
levy for such purposes, (3) encumbrances are recorded as the equivalent of expenditures for budget
purposes, and (4) interest earned on escrow accounts is budgeted as revenue in the year of debt
repayment rather than when earned. For purposes of preparing the General Fund - Budget and
Actual (Budgetary Basis) Schedule of Revenues, Expenditures, and Changes in Fund Balance,
GAAP revenues and expenditures have been adjusted to the budgetary basis.
Blended Component Unit
The Township prepares its annual appropriation ordinance, which is synonymous with its budget, using
the modified accrual basis ofaccounting. The appropriation ordinance was adopted on June 12, 2006.
It covers both Township funds.
The Township follows procedures similar to those of the City in establishing the budgetary data
reflected in the financial statements. The budget was not amended during the current fiscal year.
The following City and Township funds do not have legally adopted budgets:
Special Revenue
Library, Neighborhood Improvement, Mayor's Special Housing, HOME., Community Development
Loan, Employee Pension Contribution
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 3. STEWARDSH111, COMPLIANCE, AND ACCOUNTABILITY -Continued
A. Budgetary Information - Continued
Capital Projects
Capital Improvements, Central Business Tax Increment District, Washington National Tax Increment
District, Special Assessment
The level of control (level at which expenditures may not exceed budget) is the fund. All unencumbered
annual appropriations lapse at the fiscal year-end.
Encumbrance accounting, under which purchase orders, contracts, and other commitments for the expenditure
of monies are recorded in order to reserve that portion of the applicable appropriation, is employed as an
extension of formal budgetary integration in the General Fund. Encumbrances outstanding at year-end are
reported as reservations of fund balances since they do not constitute expenditures or liabilities under GAAP.
The following funds had an excess of actual budgetary expenditures over original and final budget for the year
ended February 29, 2008:
Fund
Actual
Budget
Excess
Debt Service Fund
$ 10,121,275 $
9,910,643 $
210,632
Southwest Tax Increment District
871,994
869,635
2,359
Howard Hartrey Tax Increment District
698,433
697,095
1,338
West Evanston
26,003
15,450
10,553
Community Development Block Grant
2,146,429
2,014,710
131,719
Affordable Housing Fund
47,564
30,000
17,564
General Fund
89,950,125
88,605,462
1,344,663
Insurance Fund
-1,957,372
-1,350,000
607,372
Township -Town Fund
382,251
362,443
19,808
41-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE. 3. STEWARDSHIP, COMPLIANCE, AND ACCOUNTABILITY -Continued
B. DEFICIT FUND EQUITY
The Insurance Fund, an internal service fund, had a net deficit of $420,700 as of February 29, 2008. The City
plans to use current resources to pay for future liabilities.
The Washington National Tax Increment District CIP Fund had a deficit fund balance of $ 194,587 as of
February 29, 2008. The City plans to use current resources and possible debt proceeds to pay for future
liabilities.
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS
A. Types of Accounts and Securities
Illinois statutes and the City's investment policies authorize the City to invest in obligations of the U.S.
Treasury, in Government Sponsored Enterprises (GSE) such as Federal }-Lome Loan Mortgage Corporation
(FI ILMC), Federal Home Loan Bank (FHLB), and Fannie Mae (FNMA); Bankers Acceptances as well as
commercial paper rated only in the highest tier; Repurchase agrcements of the highest grade; Collateralized
Certificates of Deposit issued by FDIC insured financial institutions, money market mutual funds with
portfolios limited to securities guaranteed by the United States, the Illinois Metropolitan Investment Fund
(IMET), and the Illinois Funds.
It is the policy of the City to invest public funds in a manner whereby its investment objectives are prioritized
in the following order: Safety of Principal, Liquidity, and Rate of Return. The City also seeks to maintain
diversification of investments to avoid overconcentration of any one specific issuer or business sector. To
mitigate interest rate risk, the City tries to structure the investment portfolio to meet daily cash flow needs so as
to avoid needing to sell securities on the open market. The City seeks to attain market rates of return
consistent with constraints imposed by safety and cash flow needs. The City invests to conform to all state and
local statutes governing the investment of public funds. More detail is available in the City's investment
policy.
The Firefighters and Police Pension Funds are set up for the exclusive purpose of providing retirement and
other benefits to plan participants and beneficiaries. All investments are governed and authorized by the
respective Fire and Police Pension Boards. The investment objectives and parameters mirror those listed above
for the City of Evanston. However, unlike the City's public funds, the Firefighters and Police Pension funds
may invest in various equity accounts up to a limit of 45% of the aggregate value of each respective fund's
assets. The pension funds invest to conform to all state and local statutes governing pension funds. Additional
detail is available in each pension fund's investment policies.
B. Pooling of Cash and Investments
Except for cash and investments in certain restricted and special accounts, the City pools the cash of various
funds to maximize interest earnings. Interest income is allocated to the various funds based upon their
respective participation.
42-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February
29, 2008
NOTE 4. DEPOSITS WITII FINANCIAL
INS77TUTIONS
AND INV ESTMENTS
- Continued
C. Types of Investments
As of February 29, 2008, the City has
the following investments
and maturities.
Governmental and Enterprise
Investment Maturities (In Y oars)
Investment Type
Fair Value
Less Than 1 Year I -
10 More Years Equities
Money Market / Liquid Assets
$ 23,481,205
$ 23,481,205 $
- $ -
lllinois Funds
44,434.504
44,434,504
-
Mutual Funds
1,166,364
-
206,691 959,673
Federal ]-lome Loan Mortgage Corp
991,612
991,612
- -
Federal Home Loan Bank
7,647,950
1,663,620
5,984,330 -
Fannie Mae
5,200,722
1,989,944
3,210,778 -
U.S. Treasuries
429,886
-
429,886 -
Certificate ofDeposits
4,950,000
2,950,000
2,000,000 -
Corporate Notes
746,157
-
746,157 -
i'otal Governmental and Enterprise
Investment Fund
$ 89,048,400
$ 75,510,885 $
12,577,842 $ 959,673
1MET Money Market
Fifth Third Money Market
First Bank Money Market
Fidelity Money Market
JF Morgan Money Market
Vanguard Money Market
Dotal Money Markel
Township
Investment Type
Illinois Funds
Total Township Investment
$ 5,161,835
5,535,129
3,011,490
88,080
9,306,533
378,138
$ 23,481,205
Investment Maturities (In Years)
Fair Value Less Than I Year I - 10 More Years Equities
$ 1,105,711 $ 1,105,711 $ - $ -
$ 1,105,711 $ 1,105,711 $ $ -
43 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTION'S AND INVESTMENTS- Continued
C. Types of Investments - continued
Fire and Police Pension
Investment Type
Money Market / Liquid Assets
Mutual Funds
U.S. Treasuries
Federal Farm Credit Bank
Federal Home Loan Bank
Federal Home Loan Mortgage Corp
Fannie Mac
Ginnie Mac
Common Stock
Total Fire and Police Investment
JP Morgan Trust Money Market
Smith Barney Money Market
JP Morgan Money Market
Schwab Money Market
MB Bank Money Market
IMET Money Market Convenience
Investment Maturities (In Y-ars)
Fair Value Less Than 1 Year I - 10 More Years Equities
$ 7,381,292 $
29,407,699
25,333,833
23,300
2,387,735
8,609,618
13,005,240
5,720,185
11,582,476
$ 103,451,378 $
$ 425,641
2,137,311
1,900,859
1,481,766
1,308,591
127,124
$ 7,381,292
7,381,292 $ - $
- 1,512,798 27,894,901
3,472,911 21,860,922 -
23,300 - -
1,817,282 570,453 -
248,689 8,360,929 -
- 13,005,240 -
- 5,720,185 -
- - 11,582,476
12,943,474 $ 51,030,527 $ 39,477,377
bvteresl Rate Risk. The City's investment policy does not limit investment maturities as a nreans of managing
its exposure to fair value losses arising from increasing interest rates. The objective is to maintain a core
portfolio with maturities primarily in the three month to three years range.
C.'rcdit Risk. State law limits investments in commercial paper, corporate bonds, and mutual bonds funds to
the top two ratings issued by nationally recognized statistical rating organizations. The City's investment
policy does not impose further limits on investment choices. As of June 30, 2007, the Illinois Funds and
Money Markets were rated AAAm by Standard & Poor's. The Illinois Metropolitan investment 1 - 3 Year
Fund (IME'F) exclusively invests in AAA Standard & Poor's securities, such as treasury and agency
obligations. IMET's convenience fund collateralizes all of its deposits 110%. The City's investment in Federal
Home Loan Mortgage, Fannie Mae, and Federal home Loan Bank bonds were rated AAA by Standard &
Poor's and Aaa by Moody's Investors Service.
-44-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE, 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS - Continued
C. Types of Investments - continued
Custodial Credit Risk For an investment, custodial credit risk is the risk that, in the event of the failure of the
counterparty, the City will not be able to recover the value of its investment or collateral securities that are in
the possession of an outside party. All of the City's investments were insured, registered, or filed by the
counterparty's trust.
Concentration of Credit Risk It is the policy of the City to diversify its investment portfolio. investments
shall be diversified to eliminate the risk of loss resulting in overconcentration in a security, maturity, issuer, or
class of securities.
D. Deposits
Custodial Credit Risk. For a deposit, custodial credit risk is the risk that, in the event of the failure of the
counterparty, the City will not be able to recover the value of its deposit or collateral securities that are in the
possession of an outside party. All of the City's deposits were insured, collateralized, or filed by the
counterparly's trust.
City
Deposits consist of deposits in interest -bearing and noninterest-bearing checking accounts. At February 29,
2008, the carrying amount of the City's deposits, including cash on hand of $16,443, was $10,793,308. The
financial institutions' balances totaled $11,624,960.
Township
At March 31, 2007, the carrying amount of the Township's deposits was $223,562, The financial institutions
balances totaled $227,540.
Fiduciary
Deposits consist of deposits in interest -bearing and noninterest-bearing accounts. At February 29, 2008, the
carrying amount of the Pension's deposits was $251,789 and $21,073 for Agency. The financial institutions'
balances totaled $251,789 and $21,073, respectively.
F. Reconciliation of Unrestricted and Restricted Cash and investments
The total of unrestricted cash and investments and restricted cash and investments from the Statement of Net
Assets and for the fiduciary funds is reconciled to the preceding deposit and investment disclosures (Notes 4C
and Notes 4D) as follows:
-45-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 4. DEPOSITS WITH FINANCIAL INSTITUTIONS AND INVESTMENTS —Continued
E. Reconciliation of Unrestricted and Restricted Cash and Investments - Continued
Unrestricted cash and equivalents $ 80,810,399
Unreshicted investments 11.528,957
Restricted cash and equivalents and investments 8,831,621
Total Cash and Investments — Primary Government 101,170,977
Fiduciary funds cash and equivalents 7,654,153
Fiduciary funds investments 96,070,091
Total Cash and Investments $ 204,895,221
Carrying amount of deposits -- from Note 4 D $ 11,289,732
Investments — tiom Note 4 C 193,605,489
Total $ 204,895,221
46 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year landing February 29,2008
NOTE 5. RECEIVABLES
A. Summary of Receivables
Receivables as ot'year- end for the government's individual major funds, nonmajor, inlemal service funds and fiduciary funds
in the aggregate, including the applicable allowances for uncolleclible accounts, are as follmn s:
Receivables
Pmpeily lazes
Accounts
Nines
Special assessnsnts
Acc ued interest
Other
Gross receivables
I.ess allowance for
uncollecubles
Net total re,eivables
Geneial Capital
Fund Inlorovenrells
Nonnraloi Nonina3or
Enterpnse and Olhet
Water Sewer Fund Funds Total
S 15,689,506 S
- S - $
- S
- S
31,728,551 $
47,419,057
-
- 1,717,492
2,438,960
-
3498
4,159,950
-
- -
-
-
6233,835
6,233,835
-
- -
-
-
1,087,014
1,087,014
17,829
18,393 26,051
10,541
10,397
475,369
558580
1,709,906
20,419
9,624
270,967
2,009,816
17,417,141
19,393 1,763,962
2449,SOI
19,021
39,791234
61,467,252
307,637
808,777
1,116,414
S 17,109,504 $
I9,393 $ 1,763,962 $
2449,501 S
19021 S
38990,457
60,350,838
Net total receivables S 60,350,838
R. Notes Receivable — Special Revenue Funds
'rile ('try makes loans to City residents fill the rehabilitation of single-family and nuilu-family housutg. Initial funding for these loans was
front Community Development Block Gjain (CD13(3) and Iloosing and Urban Development (I IUD) funds. Two types of loans ate made (1)
title transfer loans which are due In full when the housing unit is %old, and (2) amortizing loans which ate due in monthly mstallmcntc over
varying lengths of nine Repayments ofpruncipal and any rosiest canned on these tecevables, which are recorded in the respective Special
12cvenuc funds, are used to make additional ichabililafion loans. An allowance of $90,000 exists in the Special Revenue funds due to
doubtful accounts. Loan activity for file current year is sunmlanied as follows
Inleical Beginning
Rates of Year
Loans
Made
loan End of
Repayments Year
0%-8% $ 5,543,7.39 $ 743,765 $ 240,319 $ 6,047,185
47 -
CITY OF 1, VANSTON, ILLINOIS
Notes to the Financial Statements
I"or the Fiscal Year Ending February 29, 2008
NOTE 6. CAPITAL ASSLTS
A. Capital Asset Activity
Capital asset activity for the year ended Debi nary 29, 2008, was as follows.
Bel -inning of
Year Additions Deletions End of Year
Governmental activities:
Capital assets, not being depteaated
Land
$ 6,556,620
$ - $
-
$ 6,556,620
12ight of way
18,695,896
-
-
18,695,896
Property held for resale
-
410,000
-
410,000
Construction in progress
1.586, 104
3207,779
647,757
4,146,126
'Total capital as,sets, not being depmciated
26,838,620
3,617,779
647,757
29.808,642
Capital assets, being depieciated
Buddmgs and improvements
78,794,057
1,4577860
-
W251,917
Office cquipmenl and fmnnure
10,079,103
-
-
10,072103
Machmeiy and equipment
21,219,541
312,244
216,779
21,315,006
Infrash uctme
94,295,785
7,943,170
-
102,238,955
Library collections
9,288,269
995,012
174,603
10,108,678
Capitalized leases
664,069
65,575
-
729,644
Total capital assets being depmeciated
214,340.824
10,773,861
391,382
224,723303
Less accumulated depreciation for
Buildings and improvements
25,230,810
1,819,110
-
27,049,920
Ol7ice egmpinent and furniture
6383,523
1,338,731
-
7,722,254
Maclormy and equipnxat
13,852,806
1,532,409
209,314
15,175901
hmfrasf ucturc
46,288,953
2,940,720
-
49,229,673
Library collections
7,632,558
463961
174,603
7,921,916
Capnaloed leases
664,069
6,559
-
670,627
"Total accumulated depreciation
100,052 719
9,101,489
383,917
107,770291
Total capital act assets being depiecmted, net
114,288,105
2,672,372
7,465
116,953,012
Govemmcnlal activities capital assets, nct
$ 141,126,725
$ 6,290,151 $
655,222
$ 146,761,654
48-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the fiscal Year Ending February 29, 2008
NOTE 6. CAPITAL ASSEA'S - Continued
A. Capital Asset Activity -Continued
Beginning
of Year
Additions
Deletions
End of Year
Business -type activities:
Capital assets, not being depreciated:
Land
$ 3,297,937
$ -
$ -
$ 3,297,937
Construction in prugiess
6,241,742
14,184,995
1,669,204
18,757,533
Artwork
-
251,624
-
251,624
foaal capital assets, not being depreciated
9,539,679
14,436,619
1,669,204
22,307,094
Capital assets, being' depreciated.
Land improvements
3,386,672
176,721
-
3,563,393
Building's and ❑ilmovements
72.355,641
-
-
72,355,641
Leasehold nnprovemcnts
302,752
-
-
302,752
Flan(
31,982,840
100,959
-
32,083,799
Transmission and distribution system
30,316,711
194,470
-
30,511,181
Sewer system and underground Imes
218,169,619
513392
-
218,683,011
Equipment
1,897,536
901,379
2,775
2,850,140
Parking meters
707,088
-
-
707,098
'total capital assets being deprcciated
359,119,459
1,946,921
2,775
361,063,605
Less accumulated depreciation for
Land improvements
781,499
84,636
-
806,135
Buildings and unprovcmcnts
6,359,791
1,740.024
-
8,099,805
Leasehold unpiovemmraK
280,091
8,979
-
289,070
Plant
10,005,170
726.731
-
10,731,901
Transmission and disnibution system
4,901,491
654.929
-
5,556,420
Sewer system and underground lines
24,651 962
2,921,640
-
27,573,602
Equipment
1,572,971
223.370
2,775
1,793,566
Parking mctas
346,125
43,921
-
390,046
Total accumulated depreciation
48,899,090
6,404.230
2,775
55.300,545
Total capital net assets being depicconed, net
310,220.369
(4,457.309)
-
305,763,060
Business -type activities capital assets, net
$ 3 )9,760,048
$ 9,979,310
$ 1,669,204
$ 328,070,154
49-
CITV OF EVANSPON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 6. CAPITAL ASSETS - Continued
A. Capital Asset Activity - Continued
llepiemation expense was charged to functions/programms of the primary government as follows:
Governmental activities
General management and support $ 1,329,477
Public safely 547,386
Public works 4,201,097
Recreation and cultural opportunities 2,023,529
'folal depreciation expense— governmental activoic $ 8,101,489
13usmess — type activities
Water $ 1,405,617
Sewer 3,086,647
Sherman Garage 1,023,172
Maple Avenue Garage 702,971
Motor Vehicle Parking 185,823
Total depieciation expense - business --type activities $ 6,404,230
It. Construction Commitments
The value of construction contracts signed, wheic the work has not yet been performed at February 29, 2008, is as follows.
Capital Implovemenl Fund
Water Food
Sewer Fund
"fetal Construction Commitments
2,958,241
1,495,326
4,770,547
9,224,114
50 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year 15ndm; Pebluary 29, 2008
NOTE 7. INTFRRINDS
The oulslandumg balances between funds result mainly from the time lag between the dates that (1) mlerfund goods and services ate
provided or reimbursable expenditures occur, (2) transactions are recorded in the accounting system, and (3) payments between funds
aw made.
A. Interfund Accounts
Al Febi nary 29, 2008 mlerfund receivables and payables consist of the following
Funds
Governmental Ponds
General Fund
Emergency Telephone System
I-'cononmic Development
Meet Service
loam ance
Community Development Block Grant
Debt Service Fund
Central Business Tax Increment District
Capital Improvcnmenls
Maple Avenue Garage
Sheiman Carage
Motor Vehicle Parking System
Water
Sewer
Neighborhood I lousing Fund
Library Endowment Fund
Special Assessment CP Fund
Firefighters Pennon
Police Pension
Total General Fund
Capital I mpi ovenments
Washington National Capital projects
General
'Iblal Capital Improvements
Nonmajor Governmental Funds
Motor Fuel Tax
Community Development Loan
Economic Development
General
Emergency feeephone System
General
Due Nola
Other Funds
Due to
Other Ponds
$ 11,635 S
-
4,801
-
41,048
-
1,066
-
5,642
-
33,120
190
992
183,841
154,396
-
20,516
-
148,078
-
17,200
-
-
40,000
-
33,600
-
477
-
49,241
-
63,162
623,615
186,480
196,709
-
-
1,992
196,799
1992
488
4,891
11,635
51-
CITY OF FYANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 7. INTERRINDS - Continued
A. Interfnnd Accounts - Continued
Due room
Due to
Ponds
Other Funds
Other Ponds
Nonmalor Governmental Funds - Continued
I IOMI?
Affordable Housing
$ - $
19,940
Community Development Block Grant
-
8,991
-
29,921
Conununuy Development Block Giant
General
-
5,642
I IOM1,
8,981
-
Community Development loan
-
2,997
Washington National 'I'IF
15,565
-
West Evanston fix Increment Distract
9,995
-
Total Community Development Block
-
-
Grant
34541
8,639
Community Development Loan
Community Development Block Grant
2,997
-
Molor Pucl 'Pax
-
488
Total Community Development Loan
2,997
488
Neighborhood housing Fund
General
40,000
-
Libiary Endowment Fund
General
33,600
-
AfToidable Housing Fund
Home
19,940
-
Spemal Service District No 4
Special Service Disuict No 5
-
20,737
Employer Pension Conti ibution
Piiefightcrs Pension
-
1,516,489
Police Pension
-
2,092,543
Total Employer Pension Contribution
-
3,609,032
Town
General Assistance
-
6,074
General Assistance
'I own
6,074
-
Special Service District No. 5
Special Service Disbicl No. 4
20,737
-
West Evanston 'Tax Increment District
-
Communny Development Block Gram
-
9,995
Washington National Tax Increment Dishict
Sherman Plaza Garac
3,322,417
727,072
Community Development Block Grant
-
15,565
Total Washington National 'I IF
3,322 417
742 637
Debt Service Fund
Sewer Fund
1,01 9,989
-
General Fund
-
33,120
Total Debt Service
1,019,989
33,120
S2 -
CITY OF EVANS'FON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts- Continued
Due From Due to
funds
Other Funds Other Funds
Nonmajor Governmental funds - Continued
Central 13usinesS'rar Ineicmcnl District
General
$ - $ 190
Waslungton National Capital Projects
Capital hoprovemcnts
- 196,799
Special Assessment
General
477 -
Total Nonmalor Governmental Funds
4,501,260 4,673,158
Total Governmental Funds
5,321,674 4,861,630
lauetpnse Funds
Water
General
- 148,078
Sewer
General
- 17,200
Debt Service Fund
- 1,019,989
Total Scwm
- 1,037,189
Sherman Garage
Washington National TIP
- 2.595,345
General
- 154,396
'Folal Sherman Garage
- 2,749,741
Nonmalor Enterprise Funds
Maple Avenue Gauge
General
- 183,841
53 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Fndmg February 29. 2008
NOTE 7. INTERFUNDS - Continued
A. Interfund Accounts - Continued
Funds
Nonmalor Enterprise Funds - Continued
Motor Vehicle Parking System
General
Total Nonmalor E''nterprise Fonds
Total Enterprise Funds
Internal Service Funds
Flect Services
General
Insurance
Gcnctal
Dotal Internal Service Funds
Twsl and Agency Funds
Filcrighters Pension
General
Pmployer Pension Contribution
'Total Firefighters Pension
Police Pension
General
19mployer Pension Contribution
'Dotal Police Pension
Special Assesmreot Agency
Police Pension
Total 'frost and Agency Funds
'Pots] Primary Government
Due from
Other Funds
S
49,241
516,489
565.730
63,162
2,092,543
2,155,705
3,721,435
9,043,109 $
Due to
Other 1 unds
20,516
204.357
4.13L? 365
41,048
1,066
42,114
9,043,109
54 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 7. 1N1-IiRFON'DS - Continued
B. Interfnnd Transfers
Transfers are used to I) move revenues from the fund with collection authorization to the debt senate fund as debt service principal
and interest payments become due, 2) move restricted amounts from borrowings to the debt service fund to establish mandatory
reserve accounts, 3) move iestricted general fund revenues to finance various piogranu that the government mutt account form other
funds in accordance with budgetary authorization, including amounts provided as subsidies or matching funds for various giant
programs
At February 29, 2008 transfers i❑ / out consist of the following:
Funds
Governmental Funds
General Fund
Affoi dab]c Ifousmg Fund
Central Business'I az increment District
Washington Nat] 'tax Increment District
I toward l Iarney'Pax Increment District
Southwest Tax Increment District
Capital hnpiovcment Fund
Special Assessment
General Obligation Debt Service Fund
Water Fund
I loward Ridge 'Fax Increment District
Motor Fuel 'tax Fund
Motor Vehicle Parking System
Maple Avenue Garage Fund
'total General Fund
Capital Improvements
Water
General
Total Capital Improvement
Nonmajor Governmental Funds
Fc000nne Development
Maple Avenue Garage
Mayor's Special Rousting
Affordable I lousing Fund
Affordable I lousunu Fund
Gcncual
Mayor's Special Ileasing
Conmuuuty, Development Block Grant
Washington Nall. Tax Increment Disuuet
West livanston
Community Development Loan
Community Development Loan
Community Development Block Grant
transfers 31 ansfers
In Out
$ 31,800 $
325,000
144,800
135,000
23,000
31,800
2,693,600
114,793
772,500
517,200
43,000
1,825,000
127,400
4,832,493 1,952,400
2,000,000
1.825,000 -
1,825.000 2,000,000
- 650,000
1,558,431
31,800
558,431 -
1,558,431 31,800
15,565
9,995
62,045
87,605
62,045
SS-
CITY OF EVANS'I.ON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 7. INTFRFUNDS - Continued
B. Interfund'Fransfers -Cautioned
Funds
Nonnol or Governmental Funds - Continued
Town
General Assistance
General Assiatunce
Town
General Obligation Debt Service Fund
General
Special Assessment
Total General Oblination Debt
Central Business fax Increment District
General
Sherman Garage
Maple Avenue Garage
Total Central Business Fax Increment
District
Southwest fax Inciemcnt District
General
I loward Ilarlrey'fax Increment District
General
I lowaul Ridge Tax Increment District
General
Washington National Fax Increment District
General
Community Development Block Grant
Sherman Garage
Total Washington National
'Pax Increment Disulol
West Evanston Tax Increment District
Conmmmity Development Block Giant
Special Assessment
General
General Obligation Debt
Total Special Assessment
Motor Fuel Tax
General
'Pohl Norimajor Governmental Funds
'I "oral Governmental Funds
Tramfer
In
Transfer
Out
$ - $ 125,000
125,000 -
127,400 -
419,215 -
546,615 -
- 325,000
- 1,872.829
- 4,600,000
- 6,797,829
- 23,000
135,000
114,793
144,800
15,565
500,000
660,365
9,995
- 31,800
- 419,215
- 451,015
- 772,500
2,317,651 11,391,773
9,975A,I 15,344,173
56 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
Fou the fiscal Yew Ending February 29, 2008
NOTE, 7. INTERFl INDS - Continued
It. Intcrfund Transfers - Continued
Transfer
'I ranslbr
Funds
In
Out
laticrprise Funds
Water
General
$ - $
2,693,600
Capital Improvement
2,000,000
-
Insurance
-
2,000,000
lbtal Water
2,000,000
4,693,600
Sherman Garage
Washington Nat]. Fax Increment District
500,000
-
Central Business Tax Increment District
1,872,829
-
2,372,829
-
Nonmajor Enterprise Funds
Maple AVCnUe Garage
Central Business Fax Increment District
4,600,000
-
Economic Development
650,000
-
General Fund
-
43,000
"Total Maple Avenue Garage
5,250,000
43,000
Motor Vehicle Parking S):stem
General Fund
-
517,200
Polal Nonma3or I;nlcrpusc Funds
5,250,000
560,200
Total Enterprise Funds
9,622.829
5,253,800
Inle nal Set vice Funds
Insurance
Water
2,000,000
-
Total Inlemal Service Funds
2,000,000
-
'total Primary Government
$ 20J97.973 $
20,597,973
C. Capital Contribution
Capital conuibutions were made from governmental activities
to the Sherman garage fund m the ammunt
of $251,624 and Maple
gat a_e fund m the amount of $495,286
57-
CITY OF EVANSTON, ILI INOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 8. Operating Leases
The City of Evanston has various operating leases covering the rental of several digital office copiers from the Distinctive
Business Products, GB Capital and Great America Leasing. The copiers are located in the Evanston Civic Center, library,
Recreation Department, Water Department and the Evanston Police and Fire Station.
The following are the oustanding lease agreements as of February 29, 2008:
Number
Term
Monthly
Leasing Co.
Exphation
of Copiers
months
Payment
Location
Distinctive Business Products
02/17/09
9
60 $
1,789
Library
GE Capital
03/02/09
3
60
1,930
Civic Center (1); Police Dept. (2)
GE Capital
03/02/09
2
60
1,759
Civic Center
GE Capital
04/18/09
1
60
247
Police Dept.
GE Capital
08/19/09
1
60
302
Chandler -Newberger
GL' Capital
10/01/09
5
48
1,243
Police Dept.
Great America Leasing
04/25/08
1
60
490
Civic Center
Great America Leasing
07/25/08
1
60
190
Civic Center
Great America Leasing
04/25/10
6
60
2,541
Civic Center
Minimum annual lease payments are as follows:
Fiscal year ending 2008 $ 115,180
Fiscal year ending 2009 33,649
Fiscal year ending 2010 2,541
$ 151,370
-58-
CITY OF EVANSPON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE, 9. LONG-TERAI DEIST
A. Changes in Long -Term Debt
G.O. Debt Govern ental activities
Series 1997
Series 1998
Series 1999
Series 2000C
Sencs 20001)
Series 2002C
Suits 2003
Series 200313
Series 2004
Series 2004B
Series 2005
Series 2006
Scncs 200613
Series 2007
'Total Governmental Acawty G O Debt
G O Spwal Service District (t5
Scuts 2002C
Penal
barest Matra ny
Rate Dale
500ob-550%
I'_/1/'_017
4 MA 875%
12/l/2018
425%-500%,
12/I/2019
Vni mblc Rate
12/I/2021
Vat table Rate
12/l2021
500%-580 %
1/I/2022
200%-500%
I/l/2010
200%-525%
I/I/2023
200%-500°'o
12/1/2023
200%-525%
12/I/2017
325%-500%
12/1/2025
3 85%-5 00 %
12/l2026
400%-425%
12/12023
4.00%-500%
12/l/2016
Due Within
1/1/2007
Ixsiicd Refundnres
Pavmenle
2/29/2008
One Year
II 970,000
- 11,970,000
-
-
930,000
- -
450,000
480,000
480000
8925,000
- 3,585,000
1,295,000
4,045 000
1,345 000
6,900,000
- -
3,500,000
3,400,000
3,400,000
4,100000
- -
200.000
3,900,000
200,000
5450,000
- -
715,000
4,735,000
705,000
3,475,000
- -
2070,000
1,405000
825,000
3,640,000
- -
80,000
3,56000
85,000
13,080,000
- -
140,000
12,940,000
150,000
11,585,000
- -
1370,000
10215,000
1,340,000
16,145,000
- -
15,000
16,130000
105,000
10,290,000
- -
120,000
10,170,000
120,000
14,430000
- -
-
14430,000
-
-
30.3,85.000 -
575.000
29.810000
1 035 000
110,920,000 30,385,000 15,555,000 10,530,000 115220,000 9,790000
5 00%-5 80% 1 /1 /2016 3 070 000 295,000 2,785,000 295,000
Bonds ryennum liability
_4527,694
713368-
37y6,=1
_ 4861,441
Pension c,rarbubans
13620300
4,922,313
18442618
Compensated absence payable- City
10,060.433
5 875,174
5472,082
10,463 525 4,757 150
Clsims payable
5696 200
1326523
39 271
6,628,452 3,349,952
OPPI31"al" ny
_ _
302,471
-
302,471 -
I otal Govenu»e tal activity Long-tert liabilities
147,994,627
43,424,854
15,555M0 17,060,974
158,703 507 19,192,102
59 -
CITY OF 13VANSTON, ILLIN0IS
Notes to the Financial Statements
For the Fiscal Year Eliding February 29. 2008
NO7T 9. LONG-TEIRM DFsRT-Continued
A. Changes in Long -Term Debt - Continued
G.O. Debt Business -type Aetiviliea
Serves 1999 Puking System
Series 1909 Sewer(2007)
Said 1999 Scwci
Sates 2000A Maple Avenue Gauge
Series 2002A Sherinaa Gaiapc
Series 200213 Shcmlan Garage
Series 20031'arkmg System
Series 2005 Sherman Garage
Foal Business Activity G 0 Debl
Water lleveime BiOul,
Series 1999
Series 2002
'Dotal Water Fuld revenue bonds
IFPA Debt
Final
Inlerest Maturity 13alano,
Bale Dale ,/1/07
4 25 %-5 OVI.
12/I/2019
1,390,000
400%-500%
12/l/2016
8,935000
425°h-500%
12/l/2019
9,685000
Variable Rate
12/I/2021
7,900,000
Variable Rate
12/1/2018
29,500,000
Variable Rate
12/l2008
5,500,000
200%-500%
1/I/2010
1740000
325%-500%
11/1/2025
12.275.000
76,825,000
k,eed Rcfundmet
4125-4375% I/l2014 1,975,000
200-375°'n I/I/2012 1,365,000
3,240,000
2 535-3 59% Various 99: 190,921 10,794 924
Unamorbred bond expenses and discount
(12,878)
__
Compensated absences payable- City
585,606
95,361
0IT13 Liability
28,172
Telal Business activity Long-lcnn liabilities
180,128.6,19
10,918.357
60 -
Balance Due Within
Pa a� rents 3/1/09 One Yea,
90,000
1,300,000
95,000
780,000
8,055000
840,000
1,375,000
8,31103100
1,465,000
3,000,000
4,000000
4,000,000
1,800,000
27,700,000
1,500,000
1000,000
4,500,000
1000,000
540,000
1,200,000
580,000
810.000
11,465.000
840,000
10,295 000 66,530,000 11.320,000
235,000 1,640,000 145,000
250000 1, 115,000 265,000
.185000 2,755,000 510,000
874,858 103,410,887 7.534.224
_465 (2,413) (4,060)
41,615 639,352 6'9,352
8,172
17,686,008 173,360,998 19,999, 516
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9- LONG-TERM DEBT - Continued
A. Changes in Long-term Debt- Continued
Business type activities - Water Revenue Bonds
Business type activities revenue bonds are payable from revenues derived from Water service fees. The
City has pledged future revenues, net of operating expenses, to repay principal totaling $5,855,000 in
revenue bonds issued in 1999 and 2002. Proceeds from the bonds provided financing for Water CIP
projects. The bonds are payable solely from revenues and are payable through 2014. Annual payment and
interest on the bonds are expected to require $620,913 of net revenues for Fiscal Year 2008-09. The total
principal and interest remaining to be paid on the bonds is $3,117,456. Principal and interest paid for the
current year and total customer net revenues were $613,712 and $6,100,566 respectively.
Revenue debt payable consists of the following:
Date of Final Interest
Original
Issue Matmity Rates
Indebtedness
Balance
1/25/1999 1/1/2014 Various
3,500,000
1,640,000
10/1/2002 1/1/2012 Various
2,355,000
1,115,000
Total Business type Activities- Water Revenue Bonds
21755,000
Business type activities - IEPA Loans
Business type activities IFPA loans are payable from revenues derived from Sewer service fees. The City
has pledged future revenues, net of operating expenses, to repay principal totaling $154,541,284 in ]EPA
loans issued in 1993 through 2007. Proceeds final the loans provided financing for the bong Term Sewer
Improvement Program. 'file IEPA loans are payable solely front revenues and are payable through 2028.
Annual payment and interest on the bonds are expected to require $10,305,571 of net revenues for the
Fiscal year 2008-09. The total principal and interest remaining to be paid on the loans is $123,894,370.
Principal and interest paid for the current year and total customer net revenues were $9,512,411 and
$12,057,129 respectively.
]EPA loans payable consist of the following:
Date of Final interest Original
Issue Maturity Rates Indebtedness
Various Various Various 154,541,284
Total Business type Activities- ]EPA Loan Debt
Balance
103,410,887
103,410,887
61-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable
The City issues general obligation bonds to provide funds for the acquisition and construction of major capital
facilities. General obligation bonds have been issued for both governmental and business -type activities.
General obligation bonds are direct obligations and pledge the full faith and credit of the City. These bonds
generally are issued as 20-year serial bonds with equal amounts of principal maturing each year.
In November 2001, the City entered into an interest rate swap agreement with Bank of America relating to the
City's $19,000,000 General Obligation (G.O.) Variable Rate Demand Bonds, Series 2000A and the $10,400,000
Variable Rate Demand Bonds, Series 2000C with a fixed rate of 3.125% effective 12/1/01 through 11/30/05. In
November 2002, the City entered into a rate cap agreement with JP Morgan Chase Bank relating to the City's
$35,000,000 G.O. Variable Rate Demand Bonds, Series 2002 A and B, with a cap rate of4.75% effective 12/1/02
through 11/30/2005.
In March, 2003, the City issued $16,430,000 in General Obligation bonds with an average interest rate of 3.27%
to advance refund $15,895,000 of outstanding 1993 Series bonds with an average interest rate of 4.04%. The
advance refunding resulted in a difference between the reacquisition price and the net carrying amount of the old
debt of $538,201. This difference, reported in the accompanying financial statements as a bond premium liability,
is being charged to operations through the year 2011 using the straight-line method. The proceeds from the new
bond issue were used to establish an escrow account and those monies were used to fully payoff the 1993 bonds
on June 1, 2003. The City completed the advance refunding to reduce its total debt service payments over the
next seven years by $1,149,266 and to obtain an economic gain (difference between the present values of the old
and new debt service payments) of $1,065,550.
In May, 2003, the City issued Series 200311 $11,485,000 in Gencral Obligation bonds at a net interest cost of
4.4900825%. The proceeds are being used to partially finance the City's Long Range Capital Improvement
Program.
In May 13, 2004, the City issued Series 2004 $13,355,000 in General Obligation bonds at a net interest cost of
4.6291740%. The proceeds are being used to partially finance the City's Long Range Capital Improvement
Program and Special Assessment Alley program.
In July 27, 2004, the City issued Series 2004B $11,730,000 in General Obligation bonds at a net interest cost of
3.739542%. The proceeds are being used to partially refund $11,085,000 of the 1997 bonds.
In July 28, 2005, the City issued Series 2005 $29,270,000 in General Obligation bonds at a net interest cost of
3.893986%. The proceeds are being used to partially refund $6,350,000 of the 1998 bonds, pay a portion of the
costs of Capital Improvement Program, finish constructing the Sherman Garage, and pay loot additional Special
Assessment Alley program.
-62-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
B. General Obligation Bonds Payable- Continued
In July 19, 2006, the City issued Series 2006 $10,290,000 in General Obligation bonds at a net interest cost of
4.793401%. The proceeds are being used to partially finance the City's Long Range Capital Improvement
Program and Special Assessment Alley program
In December 27, 2006, the City issued Series 2006B $14,430,000 in General Obligation bonds at a net interest
cost of 4.206030%. The proceeds are being used to partially refund $6,480,000 of the 2002C bonds and
$7,270,000 of the 2003B bonds. This will result in net cash savings on $769,505 which translates to a net present
value savings of $665,226.
In May 24, 2007 the City issued Series 2007 $30,385,000 in General Obligation bonds at a net interest cost of
4.191092%. The proceeds are being used to current refund $11,970,000 of the City's Series 1997, advance refund
$3,585,000 of the City's outstanding Series 1999 Bonds and provide $14,830,000 for capital improvement needs.
This will result in net cash savings of $1,073,395 which translates to a net present value savings of $858,467.
Annual debt service requirements to maturity for general obligation bonds areas follows:
Year > ndingGovernmental Activities
February 28
Principal
Interest
2009
9,790,000
5,416,167
2010
6,515,000
5,037,731
2011
6,635,000
4,794,683
2012
7,130,000
4,501,828
2013
7,610,000
4,189,545
2014-2018
37,380,000
14,833,553
2019-2023
27,510,000
6,817,824
2024-2028
12,650,000
1,571,262
Total
$ 115,220,000
47,162,593
Business -type
Activities
Principal
Interest
11,320,000
2,933,734
7,540,000
2,468,528
6,735,000
2,110,474
7,325,000
1,797,960
6,565,000
1,455,774
23,190,000
3,724,368
3,855,000
146,900
63-
66,530,000 14,637,738
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
C. Special Service District Bonds Payable
The City also issued debt in the Special Service District No. 5 fund to provide funds for the principal and interest
payments on unlimited ad valorem tax bonds issued for this special taxing district.
Annual debt service requirements to maturity for special assessment bonds are as follows:
Year Ending
February 28
2009
2010
2011
2012
2013
2014-2018
Total
D. Revenue Bonds Payable
Governmental Activities
principal
Interest
295,000
143,063
305,000
128,313
325,000
113,063
335,000
96,813
345,000
80,063
1,180,000
124,950
$ 2,785,000
686,265
The City also issued revenue bonds where the City pledges income derived from the acquired or constructed
assets to pay debt service. The bonds were issued to finance construction projects related to the water treatment
plant.
Revenue bond debt service requirements to maturity are as follows:
Year Ending
Business -type Activities
February 28
Principal Interest
2009
510,000 110,913
2010
525,000 91,556
2011
550,000 71,269
2012
575,000 49,344
2013
290,000 26,032
2014-2018
305,000 13,344
Total
2,755,000 362,458
64 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
E. Notes Payable - Sewer IEPA Loans
During the fiscal year ended February 29, 2008, the City Currently has 26 outstanding loans from the IEPA. The
City will repay the loans solely from revenues derived from the sewer system; the loans do not constitute a full
faith and credit obligation of the City. They will be repaid with equal installments consisting of principal plus
simple interest, on unpaid principal balances, over a period of 20 years. Initial principal balances will consist of
disbursements and interest accrued during construction. Repayments begin not later than six months after
completion of construction.
Notes payable — Sewer IEPA debt service requirements to maturity are as follows:
Year Ending
Business -type Activities
February 28
Principal
Interest
2009
7,534,224
2,771,347
2010
7,791,791
2,575,069
2011
8,019,014
2,347,755
2012
8,252,971
2,113,703
2013
8,371,194
1,872,709
2014-2018
35,312,564
6,120,640
2019-2023
20,346,086
2,248,441
2024-2028
7,722,421
433,060
2029-2033
60,622
758
Total
103,410,887
20,483,482
F. Prior Years' General Obligation Bond Defeasances
In 1999, the City defeased a portion of Series 1994, Series 1995, and Series 1996 Corporate Purpose bonds, by
placing a portion of the proceeds of Series 1999 Bonds in an irrevocable trust to provide for the advance
refunding of the callable portion of the bonds.
In 2004, the City defeased a portion of Series 1997 Corporate Purpose bonds, by placing a portion of the proceeds
of Series 2004B in an irrevocable Escrow Account.
In 2005, the City defeased a portion of Series 1998 Corporate Purpose bonds, by placing a portion of the proceeds
of Series 2005 in an it Escrow Account.
In 2006, the City defeased a portion of Series 2002C and 2003B Corporate Purpose bonds, by placing a portion of
the proceeds of Series 2006B in an irrevocable Escrow Account.
In 2007, the City defeased Series 1999 and a portion of Series 1997 by placing a portion of the proceeds of Series
2007 in an irrevocable Escrow Account.
65 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year finding February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
F. Prior Years' General Obligation Bond Defeasances - Continued
The trust account assets and the liabilities for the defeased bonds are not included in the City's financial
statements. At February 29, 2008, the following remaining outstanding balances are considered defeased:
Original
Outstanding
G.O. Series
Amount Defeased
Defeased Amounts
1996
9,765,000
9,765,000
1998
6,350,000
6,350,000
1999 (partial)
3,585,000
3,585,000
2002C
6,480,000
6,480,000
2003B
7,270,000
7,270,000
The outstanding balances of Series 1998, 1999, 2002C and 200313, not defeased at February 29, 2008, are
recorded as a liability in the City's financial statements. Those balances are as follows:
Series
1998
$ 480,000
1999
4,045,000
2002C
4,735,000
2003B
3,560,000
G. Prior Years' Special Service District #5 Bond Defeasances
In 2003, the City defeased a portion of Special Service District 95 Series 1995 and 1996 bonds by placing a
portion of the proceeds of Series 2002C in an irrevocable escrow account.
Special Service
Original Amount
Outstanding
District #5
Defeased
Defeased Amounts
1995
1,990,000
1,990,000
1996
1,620,000
1,620,000
-66-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
H. Post Employment Benefits other than Pensions (Defined Benefit Plan)
The City of Evanston's group health insurance plan provides coverage to active employees and retirees (or other
qualified terminated employees) at blended premium rates. This result in an other post employment benefit
(OPEB) for the retirees, commonly referred to as an implicit rate subsidy. The group health insurance plan does
not issue a publicly available financial report.
Contribution requirements are established through Illinois State laws. The City of Evanston implicitly contributes
the difference between retiree's contributions and unblended rates. Retirees pay 100% of the blended premiums to
cover themselves and their covered dependents ranging from $327 for single coverage to $1,404 for family
coverage. The city pays 100% of health care premiums for Police officers and Firefighters, their dependents and
their surviving spouses and dependent children if they were injured or killed in the line of duty during an
emergency, ranging from $327 for single coverage to $1,404 for family coverage. For fiscal year 2008, the City
contributed $350,332 to the plan. The City of Evanston's annual other post employment benefit (OPEB) cost
(expense) is calculated based on the annual required contribution of the employer (ARC), an amount actuarially
detennined in accordance with parameters of GASB Statement No.45. The ARC represents a level of funding
that, if'paid on an ongoing basis, is projected to cover normal cost each year and amortize any unfunded actuarial
liabilities (or funding excess) over a period not to exceed thirty years. The following table shows the components
of the City of Evanston's annual OPEB cost for the year, the amount actually contributed to the plan and changes
in the City's net OPEB obligation to the retiree health plan.
Annual required contribution $ 680,975
Interest on net OPEB obligation -
Adjustment to annual required contribution
Annual OPEB cost 680,975
Contributions made (350,332)
Increase in net OPEB obligation 330,643
Net OPEB obligation - Beginning of Year
Net OPEB obligation - End of Year $ 330,643
-67-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEBT - Continued
H. Post Employment Benefits other than Pensions (Defined Benefit Plan) - Continued
The City of Evanston's annual OPEB cost, the percentage of annual OPEB cost contributed to the plan and the net
OPEB obligation for 2008 were as follows.
Percentage of
Fiscal Year Annual OPEB
Annual OPEB
Net OPEB
Ended Cost
Cost Contributed
Liability
2/29/2008 $680,975
51,45%
$330,643
The funded status of the plan as of March 1 st, 2007, the most recent actuarial valuation date, was as follows:
Actuarial accrued liability (AAL) $ 7,254,074
Actuarial value of plan assets -
Unfunded Actuarial Accrued Liability (UAAL) 7,254,074
Funded ratio (actuarial value of plan assets/AAL) -
Covered payroll (active plan members) $ 48,531,780
UAAL as a percentage of covered payroll 14 95%
Actuarial valuations of an ongoing plan involve estimates for the value of reported amounts and assumptions
about the probability of occurrence of events far into the future. Examples include assumptions about future
employment, mortality and the health care trend. Amounts determined regarding the funded status of the plan and
annual required contributions of the employer are subject to continual revision as actual results are compared with
past expectations and new estimates are made about the future. The schedule of funding progress, presented as
required supplementary information following the notes to the financial statements, presents multiyear trend
information that shows whether the actuarial value of plan assets is increasing or decreasing over time relative to
the actuarial accrued liabilities for benefits.
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 9. LONG-TERM DEIST - Continued
H. Post Employment Benefits other than Pensions (Defined Benefit Plan) - Continued
Projections of benefits for financial reporting purposes are based on the substantive plan (the plan is understood
by the employer and plan members) and include the types of benefits provided at the time of each valuation and
the historical pattern of sharing benefit costs between the employer and plan members to that point. The actuarial
methods and assumptions used include techniques that are designed to reduce short-term volatility in actuarial
accrued liabilities and the actuarial value of assets, consistent with the long-term perspective of calculations.
In the March 1, 2007 actuarial valuation, the entry age normal cost method was used. The actuarial assumptions
include a 4.50 percent investment rate of return and an annual healthcare cost trend date of 9.50 percent initially,
reduced by decrements to an ultimate rate of 4.50 percent after 10 years. Both rates include a 3 percent price
inflation assumption. The actuarial value of retiree health plan assets was determined using techniques that spread
the effects of short term volatility in the market value of investments over a three year period. Retiree health plan's
unfunded actuarial accrued liability is being amortized as a level percentage of projected payroll on an open basis.
The remaining amortization period at March 1, 2007, was 30 years.
69 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 10. FUND EQUITY
A. Restrictions of Net Assets - Water Fund
The ordinances authorizing the issuance of the Water revenue bonds provided for the creation of separate reserve accounts
designated as "Bond and Interest Account", "Bond Reserve Account", "Depreciation, Improvement, and Extension
Account", and "Surplus Revenue Account". Descriptions of each follow:
Bond and Interest Account - All amounts required to be set aside for the purpose of paying principal and interest of
outstanding Water Revenue bonds shall be set aside monthly as directed. In addition, there shall be credited monthly an
amount at least equal to the sum of one -fifth of the interest becoming due on the next interest payment date and one -
tenth of the aggregate yearly amount of principal due on the next principal maturity date.
Bond Reserve Account - The account shall accumulate $145,800 per year until all bonds have been paid or provision
has been made for their payment. The funds shall be retained and used only for payment of Water Revenue bonds at
any time when there are insufficient funds available in the Bond and Interest Account. Whenever the balance in the
account is equal to the maximum principal and interest requirements on all outstanding bonds for any succeeding fiscal
year, the surplus over and above may, in the discretion of the City Council, be transferred to any other account within
the Water Fund of the City.
Depreciation, Improvement, and Extension Account - The account shall accumulate $5,100 per month or a greater
amount as may be designated by the City Council. The monies shall be used first to provide an adequate allowance for
depreciation, and may be used to pay for any extraordinary maintenance, repairs, and necessary replacements for
improvement or extension of the system. The funds may be used at any time to pay principal of, or interest upon, any
outstanding bonds payable whenever there are no other funds available. If the money on deposit is greater than
$400,000, the excess can be transferred to any other account within the Water Fund. All proceeds received from the
disposition of any property shall be credited to this account.
Surplus Revenue Account - All revenues remaining after all other credits in the Water Fund have been made shall be
credited to this account and be used for: making up any deficiency necessary to credit prior accounts with the required
amounts; paying principal of, or interest on, any junior lien bonds; transfer to any other account of the fund: and any
lawful corporate purpose, at the discretion of the City Council,
B. Restricted Net Assets - Fiduciary Funds
Fiduciary Funds
Firefighters' Pension Fund Restriction for employee pension benefits $ 45,343,765
Police Pension Fund Restriction for employee pension benefits 62,525,333
Total Fiduciary Funds
70 -
$ 107,869,098
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
Por the Fiscal Year Ending February 29, 2008
NOTE 10. FUND EQUITY - Continued
C. Reservations of Fund Equity
Reservations are used to segregate portions of fund equity which are either legally restricted for specific purposes are not
"available spendable resources." The following reservations are reported:
General Fund
Reserved for encumbrances
Reserved for Arts Council
Reserved for private clm trees
Reserved for parkway trees
Reserved for Bullerlicld sculpture
Reserved for scholarship contributions
Reserved for public library acquisitions
Reserved for recreation group activities
Reserved for youth initiative
Othcrrescrves
Total General Fund
Special Revenue Funds
Reserved for I JUD approved Projects
Reserved for notes receivable
Total Special Revenue Funds
Debt Service Funds
Reserved for debt service
Total Reserved Fund Equity - Governmental Funds
PAZ
$ 137,182
32,139
144,763
354,186
31,833
32,753
100,862
207,123
42,151
24,524
1,107,516
410,000
6,047,185
6,457,185
23,292.305
$ 30,847.006
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 10. FUND EQUITY - Continued
D. Unrestricted Fund Equity - Designated
The City has designated certain amounts of unrestricted fund equity fier the following purposes:
General Fund
IMRF - Pension
Compensated Absences
Capital prgjects to be financed in a future period
Total General Fund
Special Revenue Fund:
Specific Capital Projects
Motor Fuel Tax
Library
Total Special Revenue Fund:
Capital Projects Funds
Specific capital project
Capital improvement:
Tax Increment Districts
Special Assessment
Total Capital Projects Fundy
Unrestricted Fund Equity - Designated
The Township has no designated unrestricted fund equity.
72 -
$
2,590,000
2,576,360
259,731
5,426,091
1,513,985
2,757,289
4,271,274
13 912,566
3,706,360
3,729,314
21,3487240
$ 31,045,605
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 11. INDIVIDUAL FUND ACTIVITIES
A. General Obligation Debt Service Fund
The City usually adopts several resolutions abating portions of the property tax debt service levies. "1-he amount of
property lases abated is derived from principal and interest payments by private assessments on street paving projects;
additional sewer service fees related to the citywide sewer improvement project; tax increment revenues in the Central
Business, Southwest, Washington National, and l Inward Ilarlrey Tax Increment Districts; revenues from the Motor
Vehicle Parking System Fund associated with the Church Street Sclf-Park garage; and General Obligation Debt Service
Fund interest income.
B. Water Fund
On January 28. 1997, the City executeda long-term water supply contract with the Village of'Skokie, Illinois, to replace
an expiringeontract. The contract took effecton March 1, 1997 and continues in effect fora period ufhventy ),cars until
February 28, 2017. "1-he contract is renewable at ten-year intervals thereafter. Under the terms of the contract, Evanston
is to supply Skokie sufficient potable Lake Michigan water to satisfy the maximum 24-hour demand for Lake Michigan
water of the Village of Skokie system.
The City also provides potable lake Michigan water to the Northwest Water Commission (N W WC) under a long-term
water supply contract. Sale of potable water under this contract began on February 28, 1985 and continues until
February 28, 2030. Under the terms of the current contract, Evanston is to supply the N W WC sufficient potable lake
Michigan water to satisfy the Commission's maximum 24-hour demands for Lake Michigan water for resale to the
Conunission's customers.
C. Special Service District No. 4
On August 13, 2007, the City Council adopted Ordinance No. 37-R-07 which extended the life of Special Service
District No. 4 until December 31, 2019. Special Service District No. 4 comprises the central business district of the
City. "I'he special district leas established for the purpose of providing funds for special maintenance and repair and for
promotion and advertisement. The Ordinance states that the annual property lax levy for the District shall be as
assessed and equalized the suns of $453,900. The annual property tax levy for 2007 was $453,900.
The ordinance also authorized the City to enter into an agreement with F,VMARK, INC., an Illinois not -for -profit
corporation to plan, implement, and manage the district.
73-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 12. RISK MANAGEMENT- CLAIMS AND JUDGMENTS
The City is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and
omissions; natural disasters; and injuries to the City's employees. The City maintains conunercial all-risk property
insurance to cover damage to City facilities and contents and other losses including business interruption and loss of
rents. The coverage is subject to a deductible of $25,000 for each loss and each location. The City also maintains crinnc
and fidelity insurance coverage with a $10,000 deductible to a limit of $2,000,000. In addition, coverage is maintained
for ambulance/paranmdic liability and dental malpractice.
For workers' compensation, specific excess coverage in excess of $350,000 per occurrence is purchased from a
commercial insurance company. For general liability claims, the City retains risk of loss.
No cases have exceeded the amount of insurance coverage for the past three years.
Worker compensation and general liability risks are accounted for in the Insurance Fund. The fund Was established on
March 1, 1994 to administer general liability clainns and oorkers' compensation progranns on a cost -reimbursement
basis. The fund accounts for the aforementioned liabilities of the City, but does not constitute a transfer of risk from the
City.
'fhe City records estimated liabilities for workers compensation and for general claims. Claims liabilities are based on
estimates of the ultimate cost of reported claims including future claim adjustment expenses.
The changes in the balances of claims liabilities during the past two fiscal years are as follows:
Workers'
Gencral
Compensation
Liability
Total
February 28, 2006
$ 2,941,115 $
1,592,999 $
4,534,114
New clainns and/or estimate revisions
362.161
1,489,000
1,851.161
Claims payments
(502,075)
(197AO)
(689,075)
February 28, 2007
2,801,201
2,894,999
5,696,200
New clainnsand/orestimate ievisions
1,075.507
251,016
1,326,523
Claims payments
(283,255)
(111,016)
(394,271)
February 29, 2008
$ 3.593,453 $
3,034,999 $
6,628A52
74 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year landing February 29, 2008
NOTE 13. SUBSEQUENT EVENTS
The City issued Series 2008, $43,950,000 general obligation bonds in May 2008. The distribution of proceeds are as
lbllows: $3,900,000 to current refund 20001) Bonds, $27,700.000 to current refund 2002A Bonds and $2,350,000 to
partially finance the City'.s long-range capital improvement program.
NOTE 14. CONTINGENCIES
There are various claims and legal actions pending against the City for which provision has been made in the financial
statements. At the present time, the City believes that the reserves established are sufficient so that the expected liability
for these claims and legal actions will not materially exceed the amounts recorded in the financial statements. Amounts
received or receivable from grantor agencies are subject to audit and adjustment by grantor agencies, principally the
federal government. Any disallowed claims, including amounts already collected, may constitute a liability ofthe
applicable funds. The amount, if any, ofthe expenditures which may be disallowed by the grantor cannot be determined
at this time although the City expects such amounts, if any, to be immaterial.
NOTE 15. JOINT VENTURES
A. Northwestern University
On January 28, 1985, the City adopted a Central Business 'Fax Increment City called the Downtown II Redevelopment
Area, which consisted of26 acres of contiguous land located in the northwestern portion ofthe central business District
of the City. The City comprised eight blocks of land owned by private parties, Northwestern University, and the City at
the date of adoption. 'fhe redevelopment plan was formulated in accordance with the Fax Increment City laws of the
State of Illinois.
In 1986, the City Council adopted a Statement of Understanding between the City and Northwestern University
(Northwestern) concerning the development of approximately 22 acres ofthe Downtown B City as ajoint venture. 13),
this agreement, the City and Northwestern agreed to develop a Research Park (Park) in the 22-acre area contiguous to
and adjoining a new Basic Industry Research Lab (GIRL) operated by Northwestern.
75 -
CITY OF EVANSI'ON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE15. JOINTVENTURES— Continued
A. Northwestern University - Continued
The City and Northwestern famed a for -profit corporation known as TOPCORP to buy and hold land for park
development. The City and Northwestern each acquired 50% of the stock and each was entitled to elect and replace
three directors. At the same lime, Research Park, tile. (RPI) was incorporated as a wholly owned subsidiary of
TOPCORP. The mission of RPI was to promote and market the park land to private developers. In 1996, TOPCORP
and RPI were merged and the resultant entity renamed Northwestern University/Evanston Research Park, Inc. All of the
existing management and loan agreements were assumed by the new corporation.
As of December 31, 2003, the decision was made to dissolve the organization. '1'hc remaining assets of $27,500 are to
be divided among the interested parties. ')'Ile City's Corporation Counsel filed the necessary court documents to dissolve
the organization, and it was completed on June 2006. 'There was no activity bet.vecn December 31, 2002 and December
31, 2007, so there are no financial statements to report.
B. Solid Waste Agency of Northern Cook County
On March 28, 1988, the Evanston City Council authorized agreements providing for the C'ity's participation in the Solid
Waste Agency of Northern Cook County (Agency) and in the interim financing of that Agency. The Agency was
planned and developed by the Northwest Municipal Conference, of which the City is a member. The agency is
empowered to plan, finance, construct, and operate a solid waste disposal system.
'file Agency is a municipal joint action agency created as of May 2, 1988 under the provisions of the Intergovernment
Cooperation Act, 5 ILLCS 220/3.2. 'file Agency consists of twenty-three municipalities. 'file Agency is governed by a
Board of Directors consisting of one official selected by each member community who serves a two-year terns. Each
director has one vote. The Board of Direclosdelermines the general policies of the Agency. The l ixecutive Conn ittee
of the Agency consists of seven persons elected by the Board of Directors. Each person is entitled to one vole. 'file
Executive Committee may take action not specifically reserved to the Board of Directors by the Act, the Agency
agreement, or the bylaws.
'file authority to designate nnanagenncnl, influence operations, and formulate budgets rests with the Board of Directors
and Executive Conunillee. No one nnennbcr has the abiliq, to significantly influence operations; therelbre,lhe Agency is
not a component unit of any other governmental reporting entity.
76 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 15. JOINT VENTURES —Continued
B. Solid Waste Agency of Northern Cook County - Continued
Under the 1992 project use agreement executed by the City with the Agency, the City's share of project costs, including
debt service and disposal, is based on its share of deliveries to the Wheeling Transfer station for each year. The City
does not control the Agency's fiscal management or operations nor is the City legally responsible for any more than its
share of the Agency's debt or operating deficits, if any.
Summary of Financial Position as of April 30, 2007:
Current assets
$
6,267,738
Restricted assets
1,034,968
Property, plant, and equipment
13,490,546
Debt issuance costs. net
111,57"
Total assets
$
20.904,825
Current liabilities
$
4,259,962
Long-term debt, net of unamortized discount
7,917,288
Invested in capital assets, net of related debt
4,473,258
Restricted for debt service, net of accrued interest
1,002,119
Umcstricicd net assets
3,252,198
Total liabilities and fund equity
$
20.904,825
Summary of Revenues and Expenses for the Year Ended April 30, 2007:
Total revenues
Total expenses
Net (loss)
$ 16,341,910
(16,358,896)
$ (16,986)
Complete financial statements for the agency can be obtained at 2700 Patriot Blvd., Glenview, IL 60026.
77 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE15. JOINTVENTURES— Continued
C. Evanston Housing Corporation
The City agreed to jointly participate with various lending institutions in a not-for-profithousing mortgage corporation
by approval ofthe City Council on May 22, 1989. The purpose of the corporation is to lend mortgage funds to qualified,
income eligible, first-time homebuyers in the City of Evanston.
The Corporation is governed by a Board of Directors often people. four of whom are selected by the City. The Board
has the authority to approve the annual budget and to arrange for the management of the affairs of the Corporation. The
City has no governing authority to influence actions of the Corporation. The City is not liable for payment of any debts
of the Corporation.
The City of Evanston advanced funds to the Corporation under two secured promissory notes, one for $500,000 and the
other for $214,287. 'file notes are payable on or beforeNovember30, 2009 and April 30, 2030, respectively. The notes
bear no interest. however. the City is entitled to a certain net sales consideration upon the sale or exchange of the
mortgaged property, as well as a prorated portion of the investment income earned on the funds not loaned to
mortgagees.
The financial institution~ funds are advanced under Non -Recourse Collateral ']rust Notes. The notes are payable on m
before November 30, 2029. Interest accrues based on interest earned from the mortgage notes receivable and
investments, less expenses. Interest is paid semiannually to the holders on a pro -raja basis based on the amount ofeach
note held to the total outstanding notes.
The audited financial statements of Evanston Housing Corporation for the year ended December 31, 2007 are
summarized as follows:
Statement of Financial Position as of December 31, 2007:
Cash and cash equivalents
Mortgage loans receivable
'total assets
Payables and accrued expenses
Notes payable
Total liabilities
Net Assets
V131
1,536.518
1,604,702
3,141,220
77,220
3,064,000
3,141,220
CITY OF EVANSI'ON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE15. JOINTVENTURES— Continued
C. Evanston Housing Corporation - Continued
Statement of Activities for the Year Bnded December 3 L 2007:
Total revenues
'total operating expenses
Fxcessofrevenuesoverexpenses
S 132,931
(132,931)
'fhe City provides the Corporation with office space and staff support on a cost reimbursement basis. Complete
financial statements for the Corporation can be obtained in the City's Community Development Department from the
Assistant Director, b lousing Rehabilitation and Properly Standards.
NOTE 16. DEFERRED COMPENSATION PLAN
The City of lvanston offers its elected officials and employcesa deferred compensation plan created in accordance with
Internal Revenue Code Section 457. The plan is administered by the ICMA Retirement Corporation. The plan,
available to all City employees, permits them to defer a portion of their current salary to all future year's. The deferred
compensation is not available to the participants until termination, retirement, death, or an unforeseeable emergency
occurs.
The assets of the plan are held in Trust (ICMA Retirement Corporation Deferred Compensation Plan and 'Dust), with
the City serving as trustee, fin the exclusive benefit of the plan participants and their beneficiaries. The assets cannot be
diverted to any other purpose. The City'.s beneficial ownership ofplan assets held in the ICMA Retirement Trust is held
for the further exclusive benefit of the plan participants and their beneficiaries.
'file City and its agent have no liability for losses under the plan, but do have the duty of care that would be required of
an ordinary prudent investor.
Plan balance at February 29, 2008
79 -
$ 34,562,899
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 17. DEFINED BENEFIT PENSION PLANS
fhe City maintains two separate single -employer retirement plans established by state statute for the City's police
officers and firefighters. The City also participates in the Illinois Municipal Retirement Fund (IMRF), a statewide
nmltiple-employer public employee retirement system which acts as investment and administrative agent. The IMRF
plan covers substantially all of the City's employees other than police officers and firefighters.
The City created a special revenue fund, the Employer Pension Contribution Fund, to accommodate the pension
accounting requirements. This fund recognizes the appropriate tax revenues fbi the City on behalf of the Pension Trust
Funds and contributes those amounts into the Pension "Dust Funds as the employer contribution.
fhe Employer Pension Contribution Fund is a special revenue fund and uses the modified accrual basis of accounting.
The tax revenues are recognized when measurable and available. The expenditures are recorded when the liability is
incurred, which is when the revenue is recognized.
Illinois Municipal Retirement Fund
A. Plan Description
The City and Township's defined benefit pension plan, IMRF, provides retirement, disability, annual cost of living
adjustments, and death benefits to plan members and beneficiaries, IMRF is an agent multiple employer pension plan
that acts as a common investment and administrative agent for local governments and school districts in Illinois. The
Illinois Pension Code establishes the benefit provisions of the plan that can only be amended by the Illinois Gencral
Assembly. IMRF issues a publicly available financial report that includes financial statements and required
supplementary information. "that report may be obtained by writing to the Illinois Municipal Retirement Fund, 2211
York Road, Suite 500, Oak Brook, Illinois 60523, or by accessing their websitc at
www. inu'f.org/pubs/pubs_homcpagchtm.
Employees participating in IMRF are required to contribute 4.50% of their annual covered salary. The member rate is
established by state statute. The City and Township are required to contribute at an actuarially determined rate. The
City's rate for calendar year 2007 was 7.97% of payroll. The employer contribution requirements are established and
may be amended by the IMRF 13oard 01"frnS1CCS.
B. Funding Status and Progress
The City's total payroll for the calendar year ended December 31, 2007 was $55,908,349. Of this amount. $34,496,585
in payroll earnings were reported to and covered by the IMRF system. "fhe Township's total payroll for the year ended
December 31, 2006 was $344,707. Of this amount, $344,707 in payroll earnings were reported to and covered by the
IMRF plan.
80 -
CITY OF EVANSPON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Illinois Municipal Retirement Fund - Continued
C. Annual Pension Cost
For December 31, 2007, the City's annual pension cost of $2,749,378 was equal to the City's required and actual
contributions. "Phc required contribution was determined as part of the December3l, 2004 actuarial valuation using the
entry age actuarial cost method. The actuarial assumptions included (a) 7.50% investment rate of return (net of
administrative expenses), (b) protected salary increases of 4% a year, attributable to inflation, (c) additional projected
salary increases ranging from 0.4% to 11.6% per year, depending on age and service, attributable to seniority/merit. and
(d) post -retirement benefit increases of 3% annually. The actuarial value of IMRP assets was determined using
techniques that smooth the effects of short-term volatility in the market value of investments over a five-year period.
The assumptions used for the 2006 actuarial valuation were based on the 2002-2004 experience study. IMRF's
unfunded actuarial accrued liability is being amortized as a level percentage ol'projected payroll on a closed basis. The
remaining amortization period at December 31, 2007 was 25 years.
Three -Year fiend Inlbrmalion for IMRP - City
Actuarial
Valuation Annual Pension
Date Cost (A110
12/31/07 $ 2.749,378
12/31/06 2.665,493
12/31/05 2399,228
HE
Percentage
of APC Net Pension
Contributed Obli �atc ion
100%
100%
100%
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2009
NOTE 17. DEFINED BENEFITPENSION PLANS —Continued
Illinois Municipal Retirement Fund - Continued
C. Annual Pension Cost - Continued
For December 31, 2006, the Township's annual pension cost of $20,372 was equal to the Township's required and
actual contributions. The required contribution was determined as part of the December 31, 2003 actuarial valuation
using the entry age actuarial cost method. The actuarial assumptions included (a) 7.50% investment rate of return (net
of administrative expenses), (b) pigjecled salary increases of4% a year, attributable to inflation, (c) additional projected
salary increases ranging front 0.4%. to 11.6% per year depending on age and service, attributable to senioritydncrit. and
(d) post -retirement benefit increases of 3% annually. The actuarial value of IMRF assets was determined using
techniques that smooth the effcctsofshoit-term volatility in the market value of investments over a five-yearperiod with
a 15%corridor. The assumptions used for the 2006 actuarial valuation were based on the 2002-2004 experience study.
Three -Year Trend Information for 1MRF - Township
Actuarial
percentage
Valuation
Annual Pension
of APC Net Pension
Date
Cost (A PC)
Contributed Oblination
12/31 AM
$ 20,372
100% -
12/31/t15
20,476
100% -
12/31/04
3,977
100% -
Police and Firefighters' Pension Plans
D. Plan Descriptions
I he Police Pension Plan and Firefighters Pension Plan are contributory, defined benefit public employee retirement
plans administered by the City and a Board of Trustees for each Fund. All sworn City police effect sand firefighters arc
participants in the plans. The plans do not issue stand-alone financial reports and they are not included in the report of a
public employee retirement system or another entity. The City's payroll fur police and firefighleremployces covered by
the plans for the year ended February 28. 2007 was $11,522,000 and $8,402,000 respectively and for February 29,
2008, it was $12,142,000 and $8,999,000, respectively.
82 -
CITY OF EVAN'STON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Lnding February 29, 2008
NOTE 17. DEFINED BENEFIT PENSION PLANS —Continued
Police and Firefighters' Pension Plans - Continued
D. Plan Descriptions - Continued
Participation in the plans at Fehruary 28, 2007 was:
Retirees, disabled participants, and beneficiaries of
deceased retirees currently receiving benefits
Active plan members
Total
Participation in the plans at Fela uary 29, 2009 was:
Retirees, disabled participants, and beneficiaries of
deceased retirees currently receiving henefrts
Active plan members
Total
Police Firefighters'
156 116
160 108
316 224
Police Firefighters
160 117
161 113
321 230
Any police officeror firefighterwho has creditable service of20 years or more, has reached age 50, and is no longer in
the service, is entitled to a yearly pension equal to 50% of the salary attached to the rank held lbrr one year immediately
prior to retirement in the case nf'a police officer, and at the date of retirement in the case of a firelighter. ']'he police
ofticerpension is increased by 2.5% of such salary for each additional year of service over 20 years to a maximum limit
of 75% of'such salary. The firefighter pension is increased by 1/12 of 2.5% of such monthly salary for each additional
month over 20 ),cars of service through 30 years of service to a nmimunt of 75% of such monthly salary.
Police Firefighters'
Pension Fund Pension Fund
Actuarial assumptions:
Investment rate of return 725% 7.25%
Projected salary increases 5.00% 5.00%
Attributable to inflation 3.50% 3.50%
Cost of Living Increases 3.00% 3.00%
-811-
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans - Continued
D. Plan Descriptions — Continued
A police officer or finefighterwho retires or is separated from service after accumulating at least eight years for a police
officer and 10 years for a firefighter, but less than 20 years of creditable service, will receive a monthly pension after
attaining the age of 60 based on the salary attached to the rank held for one year immediately prior to retirement or
separation in the case of a police officer and at the date of retirement or separation in the case of a firefighter. The
amount of the benefit is a tabular percentage ol'such salary ranging front 15% for 10 years of'service to 50% for 20
years of service. These benefit provisions and all other requirements arc established by state statute.
E. Summary of Significant Accounting Policies
Basis of Accounting
The Police and Firefighters' Pension Fund financial statements arc prepared using the accrual basis ofaccounting. Plan
member contributions arc recognized when due. Employerconn ibutions to each plan arc recognized when due, pursuant
to formal coil) n ittment as well as statutory or contractual requirements. Benefits and refunds are recognized when due
and payable in accordance with the terms of each plan. Administrative cost for Police and Firelighters are finance by
investment income.
Method Used to Value Investments
Investments are reported at fair value. Short-term investments arc reported at cost, which approximates fair value.
Seem dies traded on a national or international exchange arc valued at the last reported sales price at current exchange
rates. Investments that do not have an established market arc reported at estimated fair value.
F. Contributions and Reserves
Hunployee contribution rates arc established by statute at 9.91 % of a police officer's salary and 9.dG°/, of a tirefighler's
salary. Accumulated employee contributions arc refunded if an employee leaves covered employment or dies before
eight ),cars of credited service in the case of police officers and 10 years in the case of firefighters.
8a -
CITY OF EVANSI'ON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE, 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
F. Contributions and Reserves — Continued
For employer contributions, the City's budget policy is to fund pension plans at the funding level recommended
annually by the actuary. The General Fund is used to liquidate the net pension obligation.
The City's annual pension cost and net pension obligation to the Police and Firefighters' pension funds were obtained
from the funds most recent actuarial valuations (March 1, 2007 and March 1, 2008) and are as follows for both ),cars:
Police Firefighters'
Annual required contribution
$
4,636,539
$ 4,174.271
Interest on net pension obligation
617,791
403,732
Adjustment to annual required contribution
(525,516)
(343,429)
Annual pension cost
4,728.814
4,234,574
Contributions made
(4,327,012)
(3,690,201)
Increase in net pension obligation
401,802
544373
Net pension obligation at March 1, 2006
8,237,212
5,383,088
Net pension obligation at March 1,2007
$
8.639.014
$ 5,927,461
Police
Firefighters
Annual required contribution
$
6,659,960
$ 5,486,699
Interest on net pension obligation
626,329
429,741
Ac justnncnt to annual required contribution
(496,584)
(340,720)
Annual pension cost
6,789,705
5,575,720
Conti ibutions made
(4,327,745)
(4,161,537)
Increase in net pension obligation
2,461;960
1,4141183
Net pension obligation at March 1, 2007
8,639,014
5,927,461
Net pension obligation at March 1, 2008
$
11,100,974
$ 7.341,644
The difference between the total amount funded and the amount to be funded, as actuarially determined, is recorded as
the net pension obligation in the general long-term debt schedule. The total pension liability calculated as the net
pension liability dates forward from fiscal year 1987-88.
85 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year landing February 29,2008
NOTE. 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
G. Concentration of Investments
The Police Pension Trust Fund had no significant investments (other than U.S. Government and U.S. Government -
guaranteed obligations) in any one organisation that represented 5%or more of net assets available for benefits.
fhe Firefighters' Pension trust Fund had no significant investments (other than U.S. Government and U.S. Government
guaranteed obligations) in any one organization that represented 5% or more of net assets available for benefits.
If. Three -Year Trend Information — Pension Trust Funds
Fiscal
Annual Pension
Percentage of
Net Pension
Ycar Ended
Cost (AFC)
APC Contributed
Obli vas tion
Police 2/29/08
$ 6,789,705
91.52 % $
11,100.974
2/28/07
4,728,814
99.62
8,63%014
2/28/06
4,388343
106.25
8,237,212
2/28/05
4,157307
73.87
8,265,927
2/29/04
4,361,218
107.87
7.330,143
2/28/03
3,595,566
99.02
6,847,380
Firefighters' 2/29/08
$ 5,575,720
98.27 % $
7,341,644
2/28/07
4,234,574
93.89
5.927.461
2/28/06
3973,339
104.44
5.383,088
2/28/05
3,364,452
80.67
4,923,431
2/29/04
3,091,174
106.37
4.052,686
2/28/03
2,733,913
100.63
3,969,516
The required supplementary information immediately follows the Notes to the Financial Statements.
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 17. DEFINED BENEFIT PENSION PLANS -Continued
Police and Firefighters' Pension Plans — Continued
1. Pensions - Detailed Statement of Net Assets
Assets
Cash and short-term investments
Receivables
Accrued interest
Due Iron other funds
'total Receivables
Investments, at fair value
U.S. Government obligations
Common stock
Mutual funds
Total Investments
Total Assets
Liabilities
Vouchers payable
Due to other funds
'Total Liabilities
Net assets held in trust for pension benefits
Firefighters,
Pension
Police
Pension
$ 1672,999 $ 3,960,081 $
Total
Pension
7,633,080
219,488 243,607 463,095
1,565,730 2,155306 3,721,436
1385,218 2399,313 4,184,531
22,324,295 32,755.621 55,079,916
11,582,476 - 11,582,476
5 981,864 2.3 425,835 29,407,699
.39.888,6.35 56,181,456 96,070,091
45,346,852 62,540,950 107,887,702
3,087 15,517 18.604
3,087 15,517 18,604
$ 45,343,765 $ 62,525.333 $ 107,869,098
87 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29, 2008
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
J. Pensions - Detailed Statement of Changes in Net Assets
Firefighters' Police
Pension Pension
Additions
Contributions
Employer
Plan tnentbers
Total Contributions
investment income
Net appreciation in
fair value of investments
Interest
Total investment income
Loss investment expense
Net investment income
Total Additions
Deductions
Benefits
Refunds of contributions
Administrative expense
Total Deductions
Net increase
Net assets held in trust for pension benefits
Beginning of year
End of year
$ 4,161,537 $ 4,327,744 $
811472 I,230.372
41974,009 5,558.116
Total
Pension
9,499,291
2,042,844
1 Q532,125
(297,638)
(123,630)
(421,274)
1,666,420
2,205,575
3,871,995
1,368,782
2,081,939
3,450,721
235,666
94,305
329,971
1,133,116
1987,634
1120,750
6,107,125
7,545.750
13,652,875
4,521,753
6,757,102
11,278,855
-
64,234
04,234
24,363
39,432
63,795
4,546,116
6,860,768
11,406,884
1,561,009
684,982
2,245 991
43,782,756
61,840,351
105,623,107
$ 45,343,765
$ 62,525333 $
107,869,098
- 88 -
CITY OF EVANSTON, ILLINOIS
Notes to the Financial Statements
For the Fiscal Year Ending February 29,2008
NOTE 17. DEFINED BENEFIT PENSION PLANS - Continued
Police and Firefighters' Pension Plans — Continued
K. Pensions -Actuarial Valuations
The information presented in the Notes to the Financial Statements was determined as part of the actuarial valuations at
the dates specified. Additional information as of the latest actuarial valuation follows:
Firefighters'
police
pension
Pension
Fund
Fund
Valuation date
March 1, 2007
March 1, 2007
Actuarial cost method
Entry -Age Normal
Entry -Age Normal
Amortization method
Level Percentage of
Level Percentage of
payroll, closed period
payroll, closed period
Remaining amortization period
26 Years , 4 months
26 Years, 4 months
Actuarial valuation method
4-year smoothed mkt.
4-year smoothed mkt
Firefighters'
Police
Pension
Pension
Fund
Fund
Valuation date
March 1, 2008
March 1, 2008
Actuarial cost method
Entry -Age Normal
Entry -Age Normal
Amortization method
Level Percentage of
Level Percentage of
payroll, closed period
payroll, closed period
Remaining amortisation period
26 Years , 4 months
25 Years, 4 months
Actuarial valuation method
4-year smoothed mkt
4-year smoothed mkt
_g9_
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REQUIRED SUPPLEMENTARY INFORMATION
CITY Oh EVANSTON, ILLINOIS
Firefighters' Pension Pond, Police Pension Pond, and Illinois Municipal Reurement Fund
Schedules of Funding Pi ogi oss
Required Supplementary Information
February 29, 2008
Actuarial
Actuarial Accrued
Unfunded
Percentage
Actuaral
Value of
Liability (AAL)
AAL
Funded
Covered
of Covered
Valuation
Assets
Projected Unit Credit
(UAAI)
Ratio
Payroll
Payroll
Date
(a)
(b)
(b-a)
(a/b)
( c )
((h-al/c)
FnellghtelS penman
3/l/2008
$ 47006,917
1 111,696,236
$ 54,689,319
4208%
$ 8,999,000
71895%
3/)/2007
43,742,297
106361,853
62,619,556
4113%
8,402,000
74529%
3/l/2006
40,653,428
94,413,071
43,759,643
4816%
8,150,000
53693%
3/l/2005
38,327,422
78359,019
40,431597
4866%
7.684,000
526 18%
3/1/2004
37,420,932
75,342,794
37921,862
4967°%
7,376,000
51413%
3/1/2003
33,905,858
63.214,068
29,308,210
5364%
7,493,000
39114%
3/l/2002
34,837,194
58,982,455
24,145,261
5906%
7,045000
34273%
3/1/2001
33,931,179
54,983,667
21,052,488
6171%
6,468,000
325,49%
3/l/2000
33,150,978
51,490,156
19,329,178
6440%
6,020,000
30447%
3/1/1 Q99
30,669,327
49,932,007
18,262,680
6268%
5,720,000
31928%
Police Persian
3/l/2008
$ 64,355,651
$ 145,458,945
$ 81,103294
4424%
$ 12,142,000
66796%
3/12007
61,795,438
139,371,086
77,575,648
44 34%
11,522 000
673 28%
3/1/2006
58,400,853
112,449,880
54,048,027
5194%
11,195,000
48279%
3/)2005
55,269,914
106,426,694
51,156,780
5193%
10,642,000
48071%
3/l/2004
54,469,873
101824,016
47,354,143
5349%
10,217,000
46348%
3/1/2003
48,531,981
98,307,729
49,773,748
4937%
10,074,000
49409%
3/1/2002
50,171,007
90,436,150
40,265,143
5548%
9,945,000
40488%
3/1/2001
49,077,641
85,727,076
36,649,235
5725%
9,443000
38811%
3/l/2000
47,127,865
80,142,075
33,014210
5881%
9,005,000
36662%
3/l/1999
43,874,772
73,577,492
29,702,720
5963%
9,424,000
35260%
Illinois Municipal Retnement Fund
(City)
12/31/2007
$ 88,101,956
$ 84,705,898
$ (3,396,058)
104 01%
$ 34,496,595
-
12/31/2006
87,758,000
92928,874
(4,830,026)
10582%
32,625.369
-
12/31/2005
82,369,849
79,384,403
(2,984.A46)
103761%
31,401514
-
12/31/2004
77,206,655
74,129,924
(3,076,731)
10415%
29,568,219
-
12/312003
76,984,367
70,647,540
(6,336,827)
108 97%
29,240 514
-
12/31/2002
76,316,234
64,062,155
(12254,079)
11913%
26G93,089
-
12/31/2001
76,203,038
59,669,590
(16,533,448)
127 71%
25,43i 926
-
12/31/2000
70365,652
54,227,258
(16,138,394)
12976%
23,806,923
-
12/31/1999
61752,937
49,606,631
(12,146306)
12449%
22,472,238
-
12/31/1998
50,646 948
46,788,407
(3,858,541)
108 25%
21,639,257
-
Illinois Municipal
Rertement Fund
('Township)
12/31/2006
$ 514,875
$ 321,366
$ (193,509)
16021%
$ 244,707
-
12/31/2005
413,112
253,244
1,15v,8(,8)
16313%
314,044
-
12/31/2004
612,303
450398
(1(,l }a)5)
135 95%
325,805
-
12/31/2003
585,069
429,243
(155,826)
13630%
345639
-
12/31/2002
810,301
512878
(297424)
L5799%
338,707
-
12/31/2001
817,333
565,556
(251377)
144 52%
298,428
-
12/31/2000
851,413
529,330
022 n8t)
160 85%
358,218
-
12/31/1999
894,898
684060
1210,838)
130 82%
378,974
-
12/31/1998
715,669
559,842
(155,827)
127 83%
369,200
-
12/31/1997
747,332
682,880
(64,452)
10944 %
386,400
-
-90-
CITY OF EVANSTON, ILLINOIS
Firetightets and Police Pension Funds
Schedules of Finploycr Contribution
Required Supplementary information
February 29, 2009
Pitefighlcrs' Pension Fund
Police Pension Pond
Amoral
Annual
Tax Levy
Requited
City's
Percentage
Required
Cily's
Percentage
Year
Contribution
Contribution
Contributed
Contribution
Conti ibution
Contributed
2007 S
4,174,271
N/A
N/A
$ 4,636,539
N/A
N/A
2006
3,921,530
$ 3,867,153
98.61%
4,301,359
$ 4,217,457
98.05%
2005
3.317,158
3,459,626
104.29%
4,071,765
4,295,601
105.50%
2004
3,04 L911
3,398,340
111.72%
4,274,043
4,271.102
99.93%
2003
2685.046
2,690.742
100.21%
3,505,934
3,521862
100.48%
2002
2,355,236
2,374,744
100.83%
3,224,902
3,252113
100.84%
2001
2,209.466
2,324,407
105.20%
2,990,038
3,038,432
101.62%
-91-
CITY OF EVANSTON, ILLINOIS
Genet al Fund
Schedule of Revenues, ENpendiuues, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Requited Supplementary Information
Year ended February 29, 2008
Original Bud,,et
Penal Budect
Actual
Variance
Revenues
Talcs
$ 42,227,262
$ 42,227,262
$ 42,475,450 $
248,188
Licenses and permits
7,657,300
7,657,300
10,275,694
2,618 ?94
Intergovernmental
16A87,000
16,187,000
17,582,733
1,395,733
Changes for services
7,418,400
7,418,400
7,732,399
313,999
Pines
4,162,000
4,162,000
4,660 258
498,258
Investment income
400,000
400,000
623,865
223,865
Miscellaneous
3,113,055
3,113,055
2.998910
(114,145)
Total Revenues
81.165,017
81,165,017
86,349,309
5, 184.292
Fxpendrlmes
Geneial management and support
13,648,282
15.398.282
15,379,554
18,728
Public safety
31,005,863
31,080,863
32,455,754
(1,374,891)
Public works
16,031,817
16,294,317
16,218,311
76,004
l lealth and human rcSnmce development
3,962,500
3,962,500
4,181,129
(218,629)
Reacation and cultural opportumticS
18,417,000
18,417,000
18,228,700
188,300
l lousing and economic development
3,452,500
3,452,500
3,486,675
(34,175)
'!oral Expendrtures
86,517,962
88,605,462
89,950,125
(1,344,663)
(Deficiency) of Revenues (under) Expenditures
Olhcr Financing Sources (Uses)
Operating uanSfelS to (out)
Motor Fuel Tax Fund
Affordable 1lousmg Fund
Central Business "fax Inccicmenl Dlsu ict
Washington Natl Tax inclement msluct
Iio vaid IIat bey pax Increment Dish ict
Southwest Tax Increment District
Motor Vehicle Parking system
Capital lmprovemcnl Fund
Capital Impnovcmcnl Fund
Maple Avenuc (auage
.Special Assessment
WIWI Fund
(icnetal Obligation Debt Service Fund
I lowaul ILdgc Tax Increment District
Fxces$ of Revenues and Other Financing Sources
over Expenditures and Others financing Uses
Fund Balance
Beginning of year
Fad oryean
(5,352,945)
772,500
31,800
325,000
144,800
135,000
23,000
517,200
800,000
(2.625,000)
43,000
31,900
2,693,600
(127,400)
114,793
1880,093
(7A,10,445) (3,600,816) 3,839,629
772,500
31,800
325,000
144,800
135,000
23,000
517,200
800,000
(2,625,000)
43,000
31,800
2,693,600
(127,400)
114,793
2,880,093
$ (2,472.852) $ (4,560,352)
Note The budget was amended on Febwary 25. 2008
-92-
772,500
31,800
325,000
144,800
135,000
23,000
517,200
800,000
(2,625 000)
43,000
31,800
2,693,600
(127,400)
114,793
2,880,093
(720,723) $ 3,839,629
35,335,560
$ 34,614,837
CITY OF EVANSTON, ILLINOIS
Notes to the Required Supplementary Information
NOTE 1. DIGEST OF CHANGES - IMRF
The actuarial assumptions used to determine the actuarial accrued liability for 2008 are based on the 2002-2004
Experience Study.
The principal changes were:
-The 1994 Group Annuity Mortality implemented
- For regular members, fewer normal and early retirements are expected to occur.
NOTE 2. CONVERSION FROM GAAP BASIS TO BUDGETARY BASIS
Adjustments necessary to convert City revenues and expenditures for the year ended February 29, 2008 on the
GAAP basis to the budgetary basis are presented below:
General
Fund
Revenues
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 86,767,588
Increase (decrease) due to budgeting
property taxes as revenue in the year of levy (418,279)
Budgetary Basis Revenues $ 86,349,309
Expenditures
GAAP basis revenues as reported in the
Combined Statement of Revenues,
Expenditures, and Changes in Fund Balances $ 89,893,331
Increase (decrease) due to
Encumbrances - March 1, 2007 (80,388)
Encumbrances - February 29, 2008 137,182
Budgetary Basis Expenditures $ 89,950,125
-93-
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GOVERNMENTAL FUND TYPES
Nonmajor Governmental Funds
Special Revenue Funds
Special revenue funds are used to account for specific revenues that are legally restricted to expenditures for
particular purposes.
City Funds
Motor Fuel Tax - to account for the operation of street maintenance programs and capital projects as authorized by
the Illinois Department of Transportation. Financing is provided from the City's share of gasoline taxes.
Economic Development - to account for cost associated with economic development activities of the City.
Financing is provided primarily by real estate transfer tax revenues.
Emergency Telephone System - to account for revenues and expenditures for 911 emergency telephone service.
Financing is provided by network connection surcharges.
Library - to account for the activity of the funds donated to the library. These funds are invested at the direction
of the library board and are used for library acquisitions.
Neighborhood Improvement - to account for a portion of the sales tax revenues derived fi om retail sales of the
I Ionic Depot U.S.A. Inc. store in Evanston. Sales tax revenues allocated to this fund are to be expended on public
projects that will benefit the immediate neighborhood of the store.
Mayor's Special I ]ousing - to account for costs associated with housing -related programs of the City.
Affordable Housing - to account for costs associated with housing -related programs of the City.
HOME - to account for the activity of the HOME program. Financing is provided by the federal government.
Expenditures are made in accordance with the requirements of federal law.
Community Development Block Gant - to account for revenues and expenditures of the community block grant
program. Financing is provided by the federal government on a reimbursement basis in accordance with federal
formula. Expenditures are made in accordance with requirements of federal law.
Community Development Loan - to account for residential rehabilitation loans to residents.
Special Service District No. 4 - to account for promotion, advertisement, and street maintenance costs of the area
located in the City's central business district. Financing is provided by the City through an annual property tax
levy.
Continued
Special Revenue Funds - Continued
Employer Pension Contribution - to account for the recognition of applicable tax revenues and employer
contributions to the Pension Trust Funds. These contributions represent the City's pension expense for police and
firefighters.
Township Funds
Town - to account for general adntinstrative services.
General Assistance - to account for the assistance given to persons and/or families to meet their basic living
expenses.
Debt Service Funds
Debt Service funds are used to account for the servicing of general long-term debt.
General Obligation Debt - accumulated monies for the principal and interest payments on general obligation debt.
Special Service District No. 5 - accumulated monics for the principal and interest payments on unlimited ad
valorem tax bonds issued for this special taxing district.
Central Business Tax Increment District - accumulated monies for the principal and interest payments on debt
issued for this special taxing district.
Southwest Tax Increment District - accumulated monies for the principal and interest payments on debt issued for
this special taxing district.
Howard 1larhey Tax Increment District - accumulated monies for the principal and interest paymcnls on debt
issued for this special taxing district.
Washington National Tax Increment District - accumulated monics for the principal and interest payments on debt
issued for this special taxing district.
Howard Ridge Tax Increment District - accumulated monies for the payments on redevelopment project for this
special taxing district.
West Evanston Tax Increment District - accumulated monies for the payments on redevelopment project for this
special taxing district.
Continued
This page has been intentionally left blank.
Capital Projects Funds
Capital projects are used to account for the acquisition and construction of major capital facilities other than those
financed by proprietary funds and trust funds.
Central Business Tax Increment District - to account for the purchase of land and other related costs of the
research park. Financing is provided front general obligation bond and note proceeds.
Washington National Tax Increment District - to account for the costs of redevelopment of this special taxing
district. Financing is provided from general obligation bond and note proceeds.
Special Assessment - to account for capital improvements financed by special assessments on property holder and
public benefit contributions from the City.
CITY OF FVANSPON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet
February 29, 2008
Assets
Cash and equivalents
Investments
Receivables
Property taxes (net of allowance)
Current year Ievy
Notes
Accounts
Allowance
Special assessments
Accrued interest
Other
Building held for resale
Due from other governments
Due four other funds
i oU Assets
Liabilities and Fund Balances
Liabilities
Vouchems payable
Other
Due to other governments
Due to other funds
Defcned revenues
'iota) Liabilities
Fund Balances
Reserved for notes receivable
Reseved for debt service
Rescwcd for I IUD Approved Projects
Unreserved
Capital projects
Undesignaled
Total Fund Balances
'fetal Liabilities and Fund Balances
Special Revenue
Emergency
Motor Economic Telephone Neighborhood
Fuel fax Development System Library Impwvenent
$ 1,373,942 $ 1,494,730 $ 2,299,366 $ 378,138 $ 82,498
- - - 2.342406 -
- - 3,145
- 17,166 205.882 - -
159,686 - - - -
488 - - 33,600 40,000
$ 1.534,116 $ L511,896 $ 2,505,249 $ 2,757.289 $ 122,498
$ 20,131 $ 8,772 $ 33,431 $
4,891 11,635
20,131 13,663 45.066
1,513,985 - - 2,757.299
- 1-498.233 2,460.182 - 122.498
1,513 ,985 1,498,233 2,460,182 2,757,289 122A98
$ 1,534,116 $ 1,511,896 $ 2.505,248 $ 2.757,289 $ 122,498
-94-
Special Revenue
Special
Mayor's
Community
Community
Scrvice
I?mploycr
"Total
Special
ATToidable
Development
Development
Disnicl
Pension
City
Housing
housing
HOME. Block Chant
Loan
No. 4
Contribution
Funds
$ -
$ 631,196 $
24,894 $ -
$ 457,845
$ -
$ -
$ 6,742,609
-
-
- -
-
-
-
2,342,406
-
-
- -
-
440,779
8,543,406
8,984,185
1.357.839
3,039,495 24;800
1,715,052
-
-
6, 137.186
-
-
- 3,498
-
-
-
3.498
-
-
- (12,000)
(79,000)
-
-
(90,000)
$
- - - - - - 3,145
2,167 - - - - - 225,215
- - 410.000 - - - 410,000
- 55,567 6,481 - - - 221,734
19.940 - 34,541 2,997 - - 131.506
- $ 2.011,142 $ 3,119.956 467.320 $ 2,09Z894 $ 440.779 $ 8,543,406 $ 25.111,544
- $ 840 $
1,785 $
35,882 $
2,949 $
- $
-
$ 103,790
- -
-
-
2,880
-
-
2.880
- -
-
-
3,075
-
-
3,075
- -
28,921
8,639
488
20,737
3.609,032
3.684.343
- -
-
-
-
206.521
4,934374
5.200.895
- 840
30,706
44,521
9,392
287,258
8,543,400
8.994,983
- 1,357,839
3,039,495
12.799
1,637,052
-
-
6,047,185
- -
-
410.000
-
-
-
410.000
_ -
-
-
_
_
-
4,271,274
- 652463
49.755
-
451.450
153,521
-
5388,102
- 2.010,302
3,099.250
422,799
2.08A502
153.521
-
16,116.561
- $ 2.011,142 $
3.119.956
467,320 $
2.097,894 $
440.779 $
8,543A06
$ 25,111,544
-95-
Continued
CITY OF EVANSTON, ILLINOIS
Nomnajor Governmental Funds
Combining Balance Shect - Continued
2/29/2008 and 03/31/07 for City and Township respectively
Special Revenue
total
'Town
Geneial
'Township
Fund
Assistance
Funds
Total
Assets
Cash and equivalents
$
551435
$
776.838
$
1,329,273
$
8,071,892
Investments
-
-
-
2,341406
Receivables
Property taxes (net of allowance)
Current year levy
232.176
619,154
851,330
9.835,515
Notes
-
-
-
6,137,186
Accounts
-
-
_
3,498
Allowance
-
-
-
(90,000)
Special assessments
-
-
-
-
Accrued interest
-
-
-
3,145
Other
-
18,453
18;453
243,668
Building held for rosale
-
-
-
410.000
Due from other governments
-
-
-
221,734
Due from other funds
-
6.074
6.074
137,640
Total Assets
$
784.611
$
1,420,519
$
2.205.130
$
27,316.674
Liabilities and Fund Balances
Liabilities
Vouchers payable
$
114.372
$
46,283
$
160,655
$
264,445
Othcr
-
-
-
2,880
Due to other governments
-
-
-
3A75
Due to other fluids
6,074
-
6.074
3,690,417
DCflTed revenues
212.015
565A00
777,415
5,978,310
Total Liabilities
332,461
611,683
944,144
9,939.127
Fund Balances
Reserved for notes receivable
-
-
-
6,047,185
Reseved for debt service
-
-
-
-
Reserved for HUD Approved Rojccts
-
-
-
410,000
Urn eseived
Capital projects
-
-
-
4,271,274
Undesignated
452.150
808,836
1.260,986
6.649,088
Total Fund Balances
452.150
808,836
1,260,986
17.377547
Total Liabilities and Fund Balances
$
784,611
$
1,420.519
$
2.205.130
$
27,310,674
Iff-M
Debt Service
Cenn'al
Iloward
Washington
❑owai'd
West
Special
Business
Southwest
Harney
National
Ridge
Evanston
General
Service
Tax
Tax
'rax
Tax
Tax
Tax
Obligation
District
Increment
Increment
Increment
Increment
Increment
Increment
Debt
No.S
District
District
District
District
DiSIT 'ict
District
Total
$ L653,321
$ 8,746
2,374.242
$ 131,918
$ 3.507.184
$ 2-619,955
$ 159,786
$ 20,231
$ 10.474,383
-
-
1,492.832
-
-
991.605
-
-
2,474,437
8,202,397
422.572
8,573,750
597,858
1.157312
2.179.420
99,835
37,764
21,270,908
I.o 19,989
20.737
-
-
-
3,322,417
-
-
4363.143
$ 10,875,707
$ 452,055
$ 12-430.824
$ 729,776
$ 4,664,496
$ 9.112,397
$ 259.621
$ 57.995
$ 38.582,871
$ 1,009 $
-
$ 880 $
-
$ -
$ - $
- $
195
$ 2,084
33,120
-
-
-
-
742,037
-
9,995
785.752
4,695,011
22L538
7,420,042
287,896
521,434
1.297,723
50.390
18.696
14.512.730
4.722140
221.538
7,420,922
287,896
521,434
2,040,360
50390
28,886
15,300,566
6.146,567
230,517
5,009,902
441 MO
4,143,062
7,072,037
209,231
29,109
23,282.305
6,146.567
230.517
5A9902
441,880
4.143,062
7.072.037
209,231
29.109
23282305
$ 10,875,707 ,$
452.055
$ 12,430.824 $
729,776
$ 4,664,496
$ 9.112,397 $
259.621 $
57,995
$ 38.582.871
Continued
97 -
This page has been intentionally left blank.
CITY OR EVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Balance Sheet - Continued
February 29, 2008
Capital Projects
Central
Washington
Business
National
'Total
Fax
"fax
Nonmajor
Increment
Increment
Special
Governmental
District
District
Assessment
Total
Funds
Assets
Cash and equivalents
$ 3,959,010
$ 13,600
$ 3,728,912
$ M011522
$ 26.247.787
Investments
-
-
-
-
4,816,843
Receivables
Property taxes (act of allowance)
Curl cat ),car levy
-
-
-
-
31,106,423
Notes
96,649
-
-
96,649
6,233,835
Accounts
-
-
-
-
1498
Allowance
(96,649)
-
-
(96,649)
(186,649)
Special assessments
-
-
1,087,014
1,097,014
L087,014
Accrued interest
9.129
-
-
9,129
12,274
Other
-
-
-
-
243.668
Building held for resale
-
-
-
-
410.000
Due from other governments
-
-
-
-
221,734
Due from other funds
-
-
477
477
4.501.260
Total Assets
$ 3,968.139
$ 11600
$ 4.816,403
$ 8,798,142
$ 74,697.687
Liabilities and Fund Balances
Liabilities
Verdicts payable $ 67M2 $ 1 L388 $ 75 $ 78,465 $
Other
Duc to other governments
-
-
-
-
Due to other funds
190
196,799
-
196,999
Deterred revenues
-
-
L087MI4
L08M14
'total liabilities
67, 192
208.197
1,087.089
1,362,468
Fund Balances
Reserved for notes Icceivable
-
-
-
-
Rcsevcci for debt service
-
-
-
-
Reserved for IIUD Approved Projects
-
-
-
-
unleselml
Capital prgjects
3.900.947
(194,587)
3,729,314
7A35,674
Undesignated
-
-
-
-
Total Tend Balances
.1,900,947
(194.587)
3,729.314
7,435.674
'fetal liabilities and Fund Balances
$ 3,968,139 $
13,600
$ 4,816,403
$ 8.798.142
MF)C
344,994
2,880
3.075
4,673,158
21.578.054
26.602,161
6.047.185
23,282,305
410,000
11,7W WS
6,64098
48,095,526
$ 74.697,687
Concluded
CITY OF EVANSTON, ILLINOIS
Nonmalor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes inFund Balances
Year ended February 29, 2008
Special Revenue
Ennergency
Motor
Fconomic
Telephone
Nenghbolhood
Fuel Fax
Development
Svstcm
Lnbrary
Immnrovement
Revenues
'Faxes
$ -
$ 1,818,771
$ 1221,274 $
-
$ 40,000
Special assessments
-
-
-
-
-
hnergovemmental
2,100,039
-
-
-
-
Investment income
82,821
72,356
94,936
242,410
-
SSI reinibuncnlcnt
-
-
-
-
-
Idnlcrgency assistance winibursement
-
-
-
-
-
Miscellaneous
975
-
19
17.762
-
Total Revenues
2.183.835
1.89L 127
1.316.229
260.172
40.000
Expenduutes
Current
General management and support
-
_
_
_
-
Public safety
-
-
954, 141
-
-
Publiclvotks
1,844,558
-
-
-
-
Health and hntllan I'csouice development
-
-
-
-
-
Recication and cullmal opportunities
-
-
-
312,849
-
I lousing and economic development
-
1,037,237
-
-
-
Debt service
Principal
-
-
-
-
-
Intelest
-
-
-
-
-
Fiscal agent fees
-
-
-
-
-
Capital outlay
-
-
-
-
-
Tolal Expcnditulcs
1.844,558
1,037.237
954-141
312 849
-
Excess (Deficiency) of Revenues
Over (Under) Bxpenditures
339.277
853.890
362.088
(52.677)
40.000
Other Financing Sotuces (Uses)
Bonds issued
-
-
-
-
-
Bum Funding
-
-
-
-
-
Premiums and discount
-
-
-
-
-
'ltansfers In ((lilt)
General Fund
(772,500)
CommILumily Development Block Giant
-
-
-
-
-
Community Development Loan
-
_
_
_
Affordable l touring
-
-
-
-
-
Mayor's Special I lousing
-
-
-
-
-
Town Fund
_
_
_
_
_
(3encial A."istalice Fund
General Obligation Debt SCtvice Fund
-
Washington National Fax Increment District
-
-
-
-
-
West I'Vamton
-
-
-
-
-
Special Assesshnent Capital I)olect
-
-
-
-
-
Maple Avenue Garage
-
(650,000)
-
-
-
Sherman Garage
_
Total Other Financing SOurCCS (Uses)
(772.500)
(6%000)
-
-
-
Net Change in Fund Balances
(433,223)
203.890
362.088
(52.077)
40.000
Fund Balances -Beginning of Ycm
1.947.208
1.294.343
2,098.094
2.R09. 966
82.498
Fund Balances -1'nd of Year
A 1 513 995
6 1 49,9233
A 2 460 192 S
2 757 289
.S 122 49R
in
Special Revenue
Special
Mayor's
Community
Community
Semee
Employer
Total
Special
Affordable
Development
Development
Dish let
Pension
City
I lousm:
Ifousme
IIOMH
Block Grant
Loan
No 4
Contribution
Funds
$ -
$ -
$ -
$ 303,237
$ 8AW281
$ 11.872,563
-
-
438,116
2,043,852
-
-
-
4,582,007
-
16,994
13,492
-
8,181
501
-
531,591
-
384.341
-
424972
-
-
-
828.069
-
401235
451.608
2.468,824
8,181
303 738
8.489.281
17,814.230
-
-
-
-
-
- 8,489,281
9,441422
-
-
-
-
-
- -
1,844,558
-
-
-
-
-
- -
312,849
-
47,564
10202
2,146,429
23,086
245,000
-
3,601,918
-
4T564
102,602
2.146.429
23.086
245.000
8489.281
15.202.747
353.671
349.006
322.395
(14,905)
58.738
-
2.611.483
-
(31,800)
_
_
_
_ _
(804,300)
-
-
-
-
(62,045)
- -
(62,045)
-
-
-
62,045
-
- -
62,045
(1,558,431)
-
-
-
-
- -
(1,558,431)
-
1,558,431
-
-
-
- -
1,558,431
-
-
-
15,565
-
- -
15,565
-
-
-
9,995
-
- -
9,995
-
-
-
-
-
- -
(650,000)
11.558A31)
1,526.631
-
87,605
(62,045)
- -
(1,428,740)
(1S58A31
-L558AM
1M0.302
342006
410.000
(76.950)
58.738
-
1.181743
130,000
2,740.244
12.799
2, 165.452
94.783
-
14933.818
$
- X
2 010 3(12 9;
3 099 250
$ 422 799
S 2 O88 502 `±
153
521 $ $
16.116.561
Continued
Em
CITY OF FVANSTON, ILLINOIS
Nonmajor Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes at Fund Balances - Continued
Year Ended February 29, 2008 and Mawh 31, 2007 for City and Townslup respectively
Special Revenue
Total
Town
General
Township
Fund
Assistance
Funds
Total
Revenues
'faxes
$ 344,302
$ 908,797
$ 1,253,099 $
13,125,662
Special assessments
-
-
-
-
Intel govennncntal
59,805
-
59,805
4,641,812
Investment income
17,817
23,010
40,827
572418
SSl reimbursement
-
18,853
18,853
18,853
Emergency assistance rennburscnient
-
46,695
46,695
46,695
Miscellaneous
-
-
-
828.069
Total Revenues
421,924
997.355
1.419279
19.233.509
Expenditures
Cuncnt
General management and support
257,251
855,035
1,112,286
1,112.286
Public safety
-
-
-
9,443,422
Public woks
-
-
-
1,844,558
❑calla and human resource development
-
-
-
-
Recreation and cultural opportunities
-
-
-
312,849
Housing and economic development
-
-
-
3,601,918
Debt service
Pi incipal
-
-
-
-
Interest
-
-
-
-
Fiscal agent fees
-
-
-
-
Capital outlay
-
_
_
-
Total ispendianes
257.251
855.035
t.112.286
16.315.033
Excess (Deficiency) of Revenues
Over (Under) Expenditures
164.673
142.320
306.993
2.918,476
Other Financing Sources (Uses)
Bonds Issued
-
-
-
-
Escrow funding
-
Picmiums and discount
_
Transfers in (out)
(icncral Fund
-
-
-
(804,300)
Community Development Block Grant
-
-
-
(62,045)
Community Development Loan
-
-
-
62,045
Affordable l lousing
-
-
-
(1,558,431)
Mayor's Special housing
-
-
-
1,558,431
Town fund
-
125,000
125,000
125.000
General Assistance Fund
(125,000)
-
(125,000)
(125,000)
General Ohligation Debt Service Fund
-
-
-
-
Washington National Tax Increment District
-
-
-
15,565
West Evanson
_
_
_
9,995
Special Assessunent Capital Project
-
-
-
-
Maple Avenue Garage
-
-
-
(650,000)
Sherman Garage
_
_
_
_
Total Other Financing Sources (Uses)
(I25.000)
125.000
-
(1.428.740)
Net Change in Fund Balances
39,673
267.320
306993
1.489,736
Fetid Balances -Beginning of Yeas
412,477
54 L516
953.993
15.887.811
Fund Balances -1'ad of Yeas
A 452 I sO
k NOR N16
1 200996 A
17 177 547
101-
Debt Service
Central
Ho\vaid
Washington
Howard
West
Special
Business
Southwest
Ilartrey
National
Ridge
Evanston
General
Service
"fax
Tax
"Pax
Tax
Tax
Fax
Obligation
Disu ict
linacmenl
Increment
Increment
Inclement
Increment
Increment
Debt
No
District
District
District
District
District
District
Total
$ 8,951,966
$ 429,318
$ 5,985,187
$ 634,393
$ 1,280,185
$ 2,406,539
$ 109,064
$ 51,535
$ 19,747,187
185,039
6,654
373,037
19,497
157,313
232,859
7,903
91
982,393
17.478
-
-
-
-
-
-
-
17 478
9, I54,483
435972
6.258.224
653.890
1.437.498
2.639.398
115967
51.626
20.747.058
124,645
-
6,481
2,362
113
719
719
26,003
161,042
-
-
-
800,000
-
-
-
-
800,000
6,085,000
285,000
3,500,000
285,000
150,00
210,000
-
-
10,815,000
4,297,999
157,313
229,080
24,938
247,095
171,904
-
-
5,128,328
29,369
-
12,154
-
-
-
-
-
41,523
1 Q537M2
442.313
3.747,715
1, 112.300
697,208
382,623
719
26.003
16945,893
(I 382,529)
(6.341)
2510509
(458.410)
74U90
2.256.775
115248
25,623
3.801.165
15,360.000
-
-
-
-
-
-
-
15,360,000
(15,590,051)
-
-
-
-
-
-
-
(15,590,051)
708,025
-
-
-
-
-
-
-
708,025
127,400
-
(325,000)
(23,000)
(135,000)
(144,800)
(114,793)
-
(615,193)
-
-
-
-
-
(15,565)
-
(9,995)
(25,560)
419,215
-
-
-
-
-
-
-
419,215
.
-
(4,600,000)
_
-
(4,600,000)
-
-
(I,872.829)
-
-
(500000)
-
-
(2.372.829)
1,024,589
-
(6,797,829)
(23,000)
(135,000)
(660,365)
(114,793)
(2995)
(6,716393)
(357940)
(6,341)
(US7.320)
(481.410)
605,290
1.596.410
455
15,628
f2915.228)
6.504.507
236.858
9.297222
923.290
3,537.772
5.475.627
208,776
13481
26, 19T 533
$ 6.146-567 $ 23M 17 $ 5 009 902 $ 441,880 $ 4,143,062 $ 7 072,017 $ 209 231 % 29.109 $ 23,292 305
Continued
102 -
CITY OF EVANSTON, ILLINOIS
No imajoi Governmental Funds
Combining Statements of Revenues, Expenditures, and Changes at Fund Balances - Continued
Year ended February 29, 2008
Capital Proiccts
Central
Washington
Business
National
'Total
1'ax
'far
Nonmajor
Increment
Inclement
Special
Governmental
District
District
Assessment
Total
Funds
Revenues
Taxes
$ -
$ -
$ - $
-
$ 32,872,849
Special assessments
-
-
520,239
520,239
520,239
Intergovernmental
-
-
-
-
4,641,812
Investment ncome
198,708
2,489
154,864
356,061
1,910,872
SSI ieimbursement
-
-
-
-
18,853
Limergency assistance reimbursement
-
-
-
-
46,695
Miscellaneous
-
-
-
845.547
Total Revenues
198,708
2489
675.103
976.300
40 856,867
Expenditures
Cuncnt
General management and support
55,709
-
28,695
84A04
1;357,732
Public safety
-
-
-
-
9,443 422
Public works
-
136,773
-
136,773
1,981,331
Health and human resource development
-
-
-
-
800,000
Recreation and cultural opportunities
99,660
-
-
987660
411,509
Housing and economic dcvclopmcm
-
-
-
-
3,601,918
Debt service
Principal
-
-
-
-
10,815,000
Interest
-
-
-
-
5,128,328
Fiscal agent fees
-
-
-
-
41,523
Capital outlay
495,296
251.624
-
746,910
746� 910
'Petal Expendituics
642655
388.397
28,695
1 066.747
34.327,673
Excess (Deficiency) of Revenues
Over (Under) Expenditures
(450.947)
(385908)
646408
(190447)
6.529.194
Other Financing Sources (Uses)
Bonds issued
-
-
91(),0()0
910,000
16,270,000
Escrow funding
-
-
-
-
(15,590,051)
Premiums and discount
-
-
21,206
21,206
729,231
Transfers in (out)
General Fund
-
-
(31,800)
(31,800)
(1,451,293)
Community Development Block Grant
-
-
-
-
(87,605)
Community Development Loan
-
-
-
-
62,045
Affordable housing
-
-
-
-
(1,558,431)
Mayor's Special ]lousing
-
-
-
-
1,558,431
Town Fund
-
-
-
-
125,000
Gcnei al Assistance Fund
-
-
-
-
(125,000)
General Obligation Debt Service Fund
-
-
(419,215)
(419,215)
(419,215)
Washington National Tax Inacmenl District
-
-
-
-
15,565
West Evanston
-
-
-
-
Q995
Special Assessurient Capital Project
-
-
-
-
419,215
Maple Avenue Garage
-
-
-
-
(5,250,000)
Sherman Garage
-
-
-
-
(2.372.829)
'total Other Financing Sources (Uses)
-
-
480,191
480,191
(7,664 ,942)
Net Change in fund Balances
(450.947)
085MM
1.126.599
289.744
(1.135.748)
Fund Balances -Beginning of Year
4351.804
191,321
2.602.715
7.145 930
49.231,274
Fund Balances - EDd of Ycin
3 900 947
R (194 597)
R 3 729 114 R
7415074
R 48 095 526
Concluded
103 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Original
and Final
Budget
Actual
Variance
Taxes
Property
Current year levy
$ 16,976,262
$ 16,516,641
$ (459,621)
Prior year levy
25,000
219,251
194,251
Total Property Taxes
17,001,262
16,735,892
(265,370)
Personal Property Replacement Tax
895,500
1,413,364
517,864
Other Taxes
Auto rental
33,000
27,298
(5,702)
Sales - home rule
6,030,000
5,911,796
(118,204)
Utility
8,555,000
8,537,097
(17,903)
State use
942,000
1,022,938
80,938
Athletic contest
510,000
596,776
86,776
Cigarette
550,000
443,205
(106,795)
Evanston motor fuel
275,000
320,435
45,435
Real estate transfer
3,930,000
3,956,243
26,243
Poured liquor
1,800,000
1,750,381
(49,619)
Parking
1,700,000
1,760,025
60,025
Amusement
5,500
-
(5,500)
Total Other Taxes
24,330,500
24,326,194
(4,306)
Total Taxes
42,227,262
42,475,450
248,188
Continued
104 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Original
and Final
Budget
Licenses and Permits
Vehicle licenses
$ 2,200,000
Business licenses
85,000
Long-term care licenses
113,000
Rooming house licenses
197,300
Pet licenses
44,000
Farmers' market licenses
24,800
Contractors' licenses
85,000
Building permits
2,810,000
Plumbing permits
140,000
Electrical permits
150,000
Elevator permits
40,000
Signs and awning permits
10,000
Combustion equipment permits
155,000
Commercial driveway permits
700
Other Penn its
250,000
Liquor licenses
340,000
Fire alarm permit fees
-
Cable franchise fee
720,000
Nicor franchise fee
65,000
Northwestern/Centel easement
47,000
Residents' parking permits
120,000
Visitor's parking permits
14,000
Sign license fee
32,000
Alarm panel franchise fee
14,000
Plat approval and sign appeal fees
500
Right of way permits
-
Total Licenses and Permits 7,657,300
105 -
Actual
2,088,368
88,484
93,900
132,534
46,725
26,485
87,468
4,476,925
151,770
178,630
59,425
10,624
560,669
325
422,059
452,216
(150)
883,832
89,500
47,000
110,671
13,152
31,817
5,490
2,339
215,436
10,275,694
Variance
(111,632)
3,484
(19,100)
(64,766)
2,725
1,685
2,468
1,666,925
11,770
28,630
19,425
624
405,669
(375)
172,059
112,216
(150)
163,832
24,500
(9,329)
(848)
(183)
(8,510)
I'm
215,436
2,618,394
Continued
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - I3udget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Intergovernmental - Revenue from
Other Agencies
Preventive health block grant
Fire department training
Illinois state health department
basic services grant
Bio-terrorrism grant
Family planning grant
Hearing and vision grant
ICJIA grant - victim
Other federal aid
Violent crime victim assistance grant
Law enforcement block grant
Civil defense grants
Retailer and service occupation tax
State income tax
State highway maintenance
District 65 dental
Commission on Aging grant
Other state / county grants
Police training grant
Dental sealants grant
Lead grant
Federal grant / Aid
Illinois Tobacco Free Community
Summer food inspections
Kid case agreement
I -IUD emergency shelter grant
Leadbase paint control grant
Genetic education grant
Prostate cancer awareness
Family case management grant
Teen parent service program
Total Intergovernmental - Revenue
from Other Agencies
-106-
Original
and Final
Budget
Actual
Variance
$ 30,600
$ 45,918
$ 15,318
1,500
(17,612)
(19,112)
76,000
38,090
(37,910)
59,000
-
(59,000)
36,300
12,905
(23,395)
5300
-
(5,300)
45,000
-
(45,000)
16,000
-
(16,000)
24,700
20,767
(3,933)
35,400
20,934
(14,466)
30,000
233,316
203,316
9,000,000
9,237,337
237,337
6,200,000
6,827,642
627,642
130,000
182,410
52,410
1,500
-
(1,500)
43,600
57,868
14,268
-
133,880
133,880
8,000
8,000
-
2,800
1,286
(1,514)
2,000
587
(1,413)
-
177,549
177,549
-
22,522
22,522
-
600
600
11,300
71,736
60,436
86,400
104,286
17,886
200,000
213,637
13,637
10,200
850
(9,350)
-
5,951
5,951
96,400
152,774
56,374
35,000
29,500
(5,500)
16,187,000
17,582,733
1,395,733
Continued
CITY OF FVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Charges for Services
Recreation
Recreation - program
Total Recreation
Library
Film rentals
Books, lost and paid
Reserves
Miscellaneous revenues
Non-resident cards
Copy machine charges
Library meeting room rentals
Rental income
State library per capita grant
Total Library
Original
and Final
Budget
Actual Variance
$ 4,354,800
$ 4,503,360
$ 148,560
4,354,800
4,503,360
148,560
40,000
34,402
(5,598)
20,000
20,925
925
7,500
7,861
361
500
2,629
2,129
4,000
3,580
(420)
26,000
20,710
(5,290)
9,000
7,760
(1,240)
-
30,888
30,888
91,400
90,356
(1,044)
198,400
219,111
20,711
Continued
-107-
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Original
and Final
Budget
Actual
Charges for Services
Other Service Charges
Family planning clinic
$ -
197
Dental clinic fees and check up fees
126,000
111,692
Venereal disease program - Skokie
-
1,650
Birth and death records
129,000
128,357
TB nursing services
12,000
4,900
IJealth clinic fees - immunizations
-
524
Health clinic fees - sexually transmitted disease
6,700
-
Health clinic fees - 7-B
2,700
942
Health clinic fees - lab
11,800
2,695
Health clinic fees - food establishment
150,000
165,578
S.T.D.O. and S.T.D.E.
5,300
1,990
Dental check up
9,000
6,295
Emergency dental exam
100
100
X-Ray
-
40
Amalgam filling
400
-
Resin filling
4,500
4,500
Sedative filling
100
-
Extraction
200
160
Pulpotomy
800
520
Sealant office visit
700
435
Additional sealant
100
120
Temporary license fee
4,000
5,440
Food delivery vehicle
6,400
6,800
Scavenger truck
2,300
2,430
Beverage snack vending machine
34,000
24,674
Homeless health clinic
-
30
Tobacco license
13.000
12,700
Funeral director license
6,300
6,510
Temporary funeral direct license
5,900
5,165
Ambulance services
750,000
846,037
Towing charges
-
(8,740)
Weights and measures examination
1,000
265
Senior taxi coupon sales
92,000
95,014
Recycling- material sales
-
1,435
I3ackground check daycare providers
-
50
Police report fees
15,400
17,967
Child health
1,700
-
Beekeeper licenses
-
50
-108-
Variance
197
(14,308)
1,650
(643)
(7,100)
524
(6,700)
(1,758)
(9,105)
15,578
(3,310)
(2,705)
40
(400)
(100)
(40)
(280)
(265)
20
1,440
400
130
(9,326)
30
(300)
210
(735)
96,037
(8,740)
(735)
3,014
1,435
50
2,567
(1,700)
50
Continued
CITY OF FVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Original
and Final
Budget
Actual
Charges for Services - Continued
Other Scrvice Charges - Continued
Fire report fees
$ 1,000
$ 1,104
Fire cost recovery charges
10,000
29,475
Fire building inspection
8,000
5,950
Other service charges
-
1,944
Condo conversion application
52,000
54,150
Zoning fees
45,000
42,721
Alarm panel subscription fees
110,000
137,030
Skokie animal boarding fees
600
25
Passport execution fees
10,000
-
Sanitation classes and charges
60,000
74,435
Wood recycling
-
26,425
Plan review
8,000
9,485
Recycling service charge and penalty
1,169,200
1,180,662
Total Other Service Charges
2,865,200
3,009,928
Total Charges for Services
7,418,400
7,732,399
Pines
Ticket fines
3,300,000
3,572,381
Regular fines
270,000
251,814
Housing code violations
-
4,865
Permit penalty fees
25,000
8,974
Animal ordinance penalties
-
87,450
False alarm panel Cities - fire
150,000
424,700
Administrative adjudication
120,000
131,412
Library fines
182,000
177,962
Boot release fees
115,000
-
Out of service
-
700
Total Fines
4,162,000
4,660.258
Variance
104
19,475
(2,050)
1,944
2,150
(2,279)
27,030
(575)
(10,000)
14,435
26,425
1,485
11,462
144,728
313,999
272,381
(18,186)
4,865
(16,026)
87,450
274,700
11,412
(4,038)
(115,000)
700
498,258
- 109 - Continued
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Revenues - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Original
and Final
Budget
Actual
Variance
Investment Income
$ 400,000
$ 623,865
$ 223,865
Miscellaneous
Charges to Other funds
Charges to Water for
administrative expenses
764,600
764,600
-
Economic Development
390,000
390,000
Emergency Telephone System
126,000
126,000
-
Community Development Block Grant
782,834
900,572
117,738
HOME
32,700
32,700
-
Sewer
413,800
413,800
-
Motor Vehicle parking System
85,300
85,300
-
Sherman Garage
42,000
42,000
-
Total Charges to Other funds
2,637,234
2,754,972
117,738
Miscellaneous
Other Revenues
payments in lieu of taxes
27,000
-
(27,000)
Sales and rentals of property
70,000
73,085
3,085
Compensation for damage to
City property
33,000
49,347
16,347
parking permits - Ryan field
12,000
16,323
4,323
Miscellaneous
331,673
105,183
(226,490)
Total Other Revenues
473,673
243,938
(229,735)
Total Miscellaneous
3,110,907
2,998,910
(111,997)
Total Revenues
$ 81,162,869
$ 86,349,309
$ 5,186,440
Concluded
- 110 -
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
General Management and Support
City Council
City Manager
City Clerk
Law Department
Human Resources
Finance
Facilities management
Miscellaneous operating requirements
Total General Management and Support
Public Safely
Police
Fire
Total Public Safety
Public Works
Municipal service center
Public Works Director
City Engineer
Traffic Engineer
Streets
Sanitation
Total Public Works
Original
Final
Budget
Budget
Actual
Variance
$ 418,000
$ 418,000
$ 400,828
$ 17,172
3,893,582
3,893,582
3,622,076
271,506
186,200
186,200
186,997
(797)
781,400
781,400
738,624
42,776
1,771,200
1,771,200
2,438,911
(667,711)
6,597,900
8,347,900
7,494,114
853,786
-
-
(2,334)
2,334
-
-
500,338
(500,338)
13,648, 282
15,398,282
15, 379,554
18,728
19,557,063
19,632,063
20,574,784
(942,721)
11,448,800
11,448,800
11,880,970
(432,170)
31,005,863
31,080,863
32A55,754
(1,374,891)
415,150
415,150
364,353
50,797
284,100
284,100
309,528
(25,428)
1,577,000
1,577,000
1,519,354
57,646
2,943,700
2.943,700
2,839,250
104,450
3,980,325
4,242,825
4,542,645
(299,820)
6,831,542
6,831,542
6,643,183
188,359
16,031,817
16,294,317
16,218,313
76,004
Continued
CITY OF EVANSTON, ILLINOIS
General Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Health and Hunan Resource Development
I lealth and I luman Services Director
Health Department
Emergency assistance services
Mental health and community purchased services
Commission on Aging
Subsidized Taxicab Program
Human Relations
Total Health and Human Resource Development
Recreation and Cultual Opportunities
Library
Recreation
Parks and forestry
Ecology Center
Arts Council
Total Recreation and Cultural Opportunities
Housing and Economic Development
Community Development administration
Planning and coning
Housing rehabilitation and
properly standards
Building code compliance
Total Housing and Economic Development
Total Expendinnes
Original
Final
Budget
Budget
Actual
Variance
$ 304,900
$ 304,900
$ 330,463
$ (25,563)
1,772,900
1,772,900
2,105,464
(332,564)
372,500
372,500
324,912
47,588
1,066,400
1,066,400
1,063,897
2,503
150,800
150,800
150,060
740
295,000
295,000
206,287
88,713
-
-
46
(46)
3,962,500
3,962,500
4,181,129
(218,629)
4,854,700
4,854,700
4,928,060
(73,360)
8,026,000
8,026,000
7,849,587
176,413
4,009,900
4,009,900
4,050,320
(40,420)
519,500
519,500
485,712
33,788
1,006,900
1,006,900
915,021
91,879
18,417,000
18,417,000
18,228,700
188,300
247,610
247,610
262,728
(15,118)
490,900
490,900
510,392
(19,492)
883,900
883,900
957,770
(73,870)
1,830,090
1,830,090
1,755,785
74,305
3,452,500
3,452,500
3,486,675
(34,175)
$ 86,517,962
$ 89,605,462
$ 89,950,125
$ (1,344,663)
112 -
Concluded
CITY OF EVANSTON, ILLINOIS
Motor Fuel Tax Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Revenues
Intergovernmental allotments
Interest
Miscellaneous
Total Revenues
Expenditures
Public Works
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing (Uses)
Operating transfers (out)
General Fund
Net Change in Fund Balance
Fund Balances
Beginning of year
End of year
- 113 -
Original
and Final
Budget
$ 2,100,000
55,000
2,155,000
1,880,000
275,000
(772,500)
$ (497,500)
Actual
$ 2,100,039
82,821
975
2,183,835
1,844,558
339,277
(772,500)
Variance
39
27,821
975
28,835
35,442
64,277
(433,223) $ 64,277
1,947,208
$ 1,513,985
CITY OF EVANSTON, ILLINOIS
Economic Development Fund
Schedule of Revenues, Expenditures, and Changes in Pund Balance - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Revenues
Hotel taxes
Amusement taxes
Interest
Total Revenue
Expenditures
Housing and economic development
Excess of Revenues
over Expenditures
Other Financing Sources (Uses)
Operating transfers in (out)
Maple Avenue Garage l'und
Net Change in Fund Balance
Fund Balances
Beginning of year
End of year
114 -
Original
and Final
Budget
$ 1,200,000
300,000
1,500,000
1,119,200
380,800
(650,000)
$ (269,200)
Actual
$ 1,538,039
280,732
72,356
1,891,127
1,037,237
853,890
(650,000)
Variance
338,039
(19,268)
72,356
391.127
81,963
473,090
2w,890 $ 473,090
1,294,343
$ 1,498,233
CITY OF EVANSTON, ILLINOIS
Emergency Telephone System Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Revenues
Enhanced 911 surcharge
Interest
Miscellaneous
Total Revenue
Expenditures
Public Safety
Net Change in Fund Balance
Fund Balance
Beginning of year
End of year
115 -
Original
and Final
Budget
$ 1,085,000
15,000
1,100,000
2,257,800
$ (1,157,800)
Actual
$ 1,221,274
94,936
19
1,316,229
954,141
Variance
$ 136,274
79,936
19
216,229
1,303,659
362,088 $ 1,519,888
2,098,094
$ 2,460,182
CITY OF EVANSTON, ILLINOIS
Affordable housing Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Revenues
Interest
Miscellaneous
Total Revenue
Expenditures
Housing and economic development
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing (Uses)
Transfers in (out)
Mayor's Special Housing
General Fund
Net Change in Fund Balance
Fund Balance
Beginning of year
End of year
116-
Original
and Final
Budget
$ 10,000
30,000
40,000
30,000
(31,800)
$ (21,800)
Actual
Variance
$ 16,894
$ 6,894
384,341
354,341
401,235
361,235
47,564
(17,564)
353,671
343,671
1,558,431 1,558,431
(31,800) -
1,880,302 $ 1,902,102
130,000
CITY OF i VANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Original
and Final
Budget Actual
Revenues
Intergovernmental allotments
Grant from the U.S. Department of
Housing and Urban Development
Miscellaneous
Total Revenues
Expenditures
Housing and economic development
Excess (Deficiency) of Revenues
over (under) Expenditures
Other Financing (Uses)
Transfers
W. Evanston
Washington Nall
Community Development Loan
Net Change in Fund Balance
Fund Balance
Beginning of year
End of year
117 -
$ 2,014,710 $ 2,043,852
- 424,972
2,014,710 2,468,824
2,014,710 2,146,429
322,395
9,995
15,565
62,045
87,605
Variance
$ 29,142
424,972
454,114
(131,719)
322,395
9,995
15,565
62,045
87,605
$ - 410,000 $ 384,440
12,799
$ 422,799
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Original
and Final
Budget
Actual
Variance
Administration/Planning
CDBG Administration
$ 306,000
$ 316,799
$ (10,799)
Fair Housing Assistance
70,000
69,984
16
Total Administration/Planning
376,000
386,783
(10,783)
Economic Development
Evanston Community Development Corp.
55,286
50,677
4,609
Neighborhood Fagade Program
25,000
29,058
(4,058)
MBE/Small Business Assistance
61,814
61,812
2
Total Economic Development
142,100
141,547
553
Housing
Adaptive Devices
10,000
2,954
7,046
Community Development Administration
108,500
-
108,500
Demolition/Vacant Lot Cleanup Program
-
19,119
(19.119)
Handyman Services
12,000
-
12,000
Housing Code Compliance
300,000
300,000
-
Housing Rehabilitation Administration
150,000
258,492
(108,492)
Minor Repairs/Painting Assistance - E.N.A.W.
150,000
133,016
16,984
Total I lousing
730,500
713,581
16,919
Continued
- 118 -
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Neighborhood Revitalization
Accessible Curb Ramp Program
Alley Paving Program
Black American Heritage and Tech Center
Child Care Center Building
Curb/Sidewalk Replacement
Custer Street Improvements
Family Focus Center Improvements
Handyman Assistance/Elderly Home Repair
Perry Park Renovation
Restoration 1817 Church
South Evanston Neighborhood Security
Special Assessunents / Alley Paving
YMCA Elevator Rehab
YWCA Shelter Project
Total Neighborhood Revitalization
119 -
Original
and Final
Budget
$ 50,000 $
75,000
18,500
65,000
5,000
30,000
100,000
10,000
40,000
35,000
16,000
444,500
Actual
71,936
91,714
2,305
78,834
4,372
13,297
100,000
10,294
77,673
16,000
466,425
$
Variance
(21,936)
(16,714)
(2,305)
18,500
(13,834)
628
30,000
(13,297)
10,000
(10,294)
(37,673)
35,000
(21,925)
Continued
CITY OF EVANSTON, ILLINOIS
Community Development Block Grant Fund
Schedule of Expenditures - Budget and Actual (Budgetary Basis) - Continued
Year ended February 29, 2008
Public Services
Adopt a Fancy Can
Blue I-leron Theatre
Community Unity I
Evanston Community Defender
Evanston Legal Services CCLAF
First Base Homeless
Girls Scouts Studio B
Graffiti Removal Program
Interfaith Housing Program
Legacy Project Shorefron
Meals at I -Ionic
Music Institute
North Shore Senior Center
Open Studio Ail
Preschool Playground
Second Baptist
Senior Crime Prevention
Shorefront NFP Legacy Project
Smith Park Renovations
Summer Youth
YAM Annual College Retreat
Youth Job Center of Evanston
YWCA Shelter Project
Total Public Services
'total Expenditures
120 -
$
Original
and Final
Budget
4,022
2,500
4,000
49,850
8,973
4,000
4,000
27,000
13,000
8,400
8,250
1,496
23,769
3,150
15,000
43,400
10,400
55,400
35,000
321,610
Actual
4,517
4,000
49,850
8,973
4,000
4,000
26,988
13,000
8,250
1,496
23,769
3,150
18,500
10,400
15,000
8,400
100,000
43,400
55,400
35,000
438,093
Variance
(495)
2,500
12
8,400
(18,500)
(10,400)
(8,400)
(100,000)
10,400
(116,483)
$ 2,014,710 $ 2,146,429 $ (131,719)
Concluded
This page has been intentionally left blank.
CITY OF EVANSTON, ILLINOIS
Special Service District No. 4 Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual (Budgetary Basis)
Year ended February 29, 2008
Revenues
Property taxes
Current year levy
Prior year levy
Interest
Total Revenues
Expenditures
I Iousing and economic development
Net Change in Fund Balance
Fund Balance
Beginning of year
End of year
121 -
Original
and Final
Budget Actual Variance
$ 453,900
$ 453,900
$
-
(18,280)
(18,280)
-
501
501
453,900
436,121
(17,779)
245,000
245,000
$ 208,900
191,121
$ (17,779)
228,921
$ 420,042
CITY OF EVANSTON, ILLINOIS
Township - Town Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Year February 29, 2008 and March 31, 2007 for City and Township respectively
Revenues
Property taxes
Interest
Replacement tax
Total Revenues
Expenditmcs
General management and support
Excess of Revenues over Expenditures
Other Financing (Uses)
Operating transfers (out)
General Assistance fund
Net Change in Fund Balance
Fund Balance
Beginning of year
End of year
-122-
Original
and Final
Budget
$ 352,139
8,000
55,000
415,139
237,443
177,696
(125,000)
$ 52,696
Actual
$ 344,302
17,817
59,805
421,924
257,251
164,673
(125,000)
Variance
(7,837)
9,817
4,805
6,785
(19,808)
(13,023)
39,673 $ (13,023)
412,477
$ 452,150
CITY OF EVANSTON, ILLINOIS
Township - General Assistance Fund
Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual
Year February 29, 2008 and March 31, 2007 for City and Township respectively
Original
and Final
Budget
Actual
Revenues
Property taxes
$ 939,038
$ 908,797
Interest
8,000
23,010
SSI reimbursement
5,000
18,853
Emergency assistance reimbursement
124,683
46,695
Total Revenues
1,076,721
997,355
Expenditures
General management and support
1,123,403
855,035
(Deficiency) of Revenues
(under) Expenditures
(46,682)
142,320
Other I'inancing Sources
Transfers in
Town Fund
125,000
125,000
Net Change in Fund Balance
Fund Balance
Beginning of year
End of year
-123-
Variance
(30,241)
15,010
13,853
(77,988)
(79,366)
(268,368)
189,002
$ 78,318 267,320 $ 189,002
541,516
$ 808,836
CITY OF EVANSTON, ILLINOIS
Debt Service Funds
Combining Schedule of Revenues, Expenditures, and Changes in Fund Balances
Budget and Actual (Budgetary Basis)
Yeas handed February 29, 2008
Revenues
I -axes
Property taxes
Current year levy, net
Prior year levy, net
Investment income
Miscellaneous
'Ibtal Revenues
I-xpendnures
General management
and support
Health and human resources
development
Debt Service
Principal
Interest
Fiscal agent fees
'Total Ispcnditures
Excess (Deficiency) of Revenues
over(under) Expenditures
Other Financing Sources (Uses)
Operating transfers in (out)
Bond Proceeds
Escrow Funding
Premiums and discounts
General
Economise Development
Special Assessment
Maple Avenue Garage
Sheunan Garage
Net Changes in Fund Balances
Fund Balances
Beginning of year
1-nd of year
Special Central
General Service District Business fax
Obligation Debt No 5 Increment District
Original Original Original
and Penal and Final and Foal
Budget Actual Budget Actual 1311d,el Actual
Southwest fax
Increment District
Original
and Final
Budnt Actual
$ 9,052,609 $ 9,064,480 $ 439,000 $ 438,806 $ 9500,000 $ 8,192866 $ 600,000 S 597,858
-
(19,546)
-
(18,607)
-
57,589
-
225,000
185,039
400
6,654
120,000
373,037
10,000
19,497
-
17,478
-
-
-
-
-
-
9,277,609
9,247,451
439,400
426,953
9,620,000
8,630,492
610,000
617355
3,000
124,645
500
-
335,000
6,491
-
2363
-
-
-
-
600,000
-
800,000
800,000
5,080,000
5,729,341
295,000
295,000
3,500,000
3,400,000
65,000
65,000
4,637,643
4,237,920
143,063
143,063
364,000
106,580
4,635
4631
190,000
29,369
-
-
40,000
12,154
-
-
9,910,643
10,121,275
438,563
439,063
4,839,000
3,525215
869,635
871,994
(633,034)
(873,824)
837
(II 210)
4,791,000
5,105,277
(259,635)
(254,639)
-
15,360,000
_
_
_
_
-
(15,590,051)
-
-
-
-
-
-
-
708,025
-
-
-
-
-
-
127,320
127,400
-
-
(325,000)
(325,000)
(23,000)
(23,000)
419215
419,215
-
-
-
-
(4,600,000)
(C600,000)
-
-
-
-
-
-
0,872,829)
(1,872,929)
-
-
546,535
1,024,589
-
-
(6,797,829)
(6,797,929)
(23,000)
(23,000)
$ (86,499)
150,765
$ 837
(11,210)
$(2,016,829)
(1,092,552) $ (282,635)
(277,639)
1,022,894 25,201
$ 1,173,659 $ 13,991
124 -
2,029,747 339,925
337,195 $ 62,286
waslunglOn
I-loward Ilan
trey lax
National Fax
Iloward Ridge lax
West l-Vanston
fax
Increment
District
Increment
District
Increment
Dislucl
Increment
District
Totals
Original
Original
Original
Ouemsl
OF emal
and Penal
and Puxtl
and Final
and Penal
and Final
Budect
Actual
13udect
Actual
13udect
Actual
13udeel
Actual
Budget
Actual
$ 1,250,000
$ 1,157,311
$ 1,700,000
$ 2,308,133
$ 110,200
$ 103,815
$ 50,000
$ 39,037
$ 22,701,809
$ 21,909,306
-
-
-
36,667
-
3,548
-
362
-
60,013
40,000
157,313
70,000
232,859
-
7,903
-
91
465,400
982,393
-
-
-
-
-
-
-
-
17,478
1,290,000
1,314,624
1,770,000
2,577,659
110,200
115,266
50,000
39,490
21,167,209
22969,190
-
113
50,000
719
15,450
719
15,450
26,003
419,400
161,043
-
-
-
-
-
-
-
-
1,400,000
800,000
450,000
475,000
220,000
220,000
-
-
-
-
9,61 ONO
10,184,341
247,095
223,320
16U78
160,878
-
-
-
-
5,557,314
4,876,392
-
-
120,000
-
-
-
-
-
350,000
41,523
697,095
698,433
550,878
381,597
15,450
719
15,450
26,003
17,336,714
10,063,299
592,905
616,191
1,219,122
2,196,062
94,750
114,547
34,550
13,497
5,930,495
6,905,891
_
-
-
_
_
_
_
15,360,000
-
-
-
-
-
-
-
-
-
(15,590,051)
-
-
-
-
-
-
-
-
-
708,025
(135,000)
(135,000)
(144,900)
(144,800)
(114,793)
(114,793)
-
-
(615,273)
(615,193)
(9,995)
-
(9,995)
419215
419,215
-
-
-
-
-
-
-
-
(4,600,000)
(4,600,000)
-
-
(500,000)
(515,565)
-
-
-
-
(2,372,829)
(2,388,394)
(135,000)
(135,000)
(644,800)
(660,365)
(114,793)
(114,793)
-
(9,995)
(7,108,887)
(6,716,393)
$ 457,905
481,191
$ 574,322
1,535,697
$ (20,043)
(246)
$ 34,550
3,492
$ (1,338,392)
189,498
2,327,671
4.273,766
160,030
6,550
10,185,784
$ 2,809,862
$ 5,809,463
$ 159,784
$ 10,042
$ 10,375 282
125 -
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PROPRIETARY FUND TYPES
CITY OF EVANSTON, ILLINOIS
Nunmajor Proprietary Funds
Statement of Net Assets
February 29, 2008
Assets
Current Assets
Business -type Activities - Enterprise Fund
Total
Maple Motor Vehicle Nonmajor
Avenue Parking Proprietary
Garage System Funds
Cash and equivalents
$ 5,159,508 $
1,406,883 $
6,566,391
Investments
1,000,000
-
1,()00,000
Receivables
Aaxued interest
10397
-
10397
Other
1,165
7,459
8,624
Total Cur rent Assets
6,171.070
1,414342
7,585Al2
Noncurrent Assets
Capital Assets
Land
-
2.742,522
2,742,522
Capital assets being depreciated
27,623,959
U59.511
36,883,470
Less accumulated depreciation
(4,935,833)
(2,992,193)
(7.928,016)
Total Noncurrent Assets
22,688.126
9,009,850
31.697,976
Other Assets
Receivables
Notes
-
264,000
264,000
Total Assets
28,959.196
10,688,192
39,547,388
126-
Liabilities
Current Liabilities (Payable from Current Assets)
Vouchers payable
Interest payable
Compensated absences payable
General obligation bonds payable
Unamortired bond expenses and discount
Due to other funds
Total Current Liabilities (Payable from
Current Assets)
Long -Term Liabilities
OPEB Liability
General obligation bonds payable
Total Long -'term Liabilities
'Total Liabilities
Nut Assets
Invested in capital assets, net of
related debt
Unrestricted
Total net assets
Business -type Activities - Enterprise Fund
Total
Maple
Motor Vehicle
Nonmajor
Avenue
parking
Proprietary
Garage
System
Funds
$ 32,680 $
54,564
$ 87,244
-
33,166
33,166
-
81.324
81324
4,000,000
675,000
4,675,000
(4,060)
-
(4,060)
183.841
20.516
204,357
4,211461
86C570
5.077,031
-
4,537
4,537
-
1,825,000
1,825,000
-
L829.537
1,829,537
4.212,461
2,694,107
6,906,568
18,692,186
6509,850
25,202,06
5,954,549
1,484,235
7,438.784
24,646,735 $
7,994,085
$ 32,640,820
127-
This page has been intentionally left blank.
CITY Or EVANSTON, ILLINOIS
Nonmajor Proprietary Funds
Combining- Statement of Revenues, Expenses, and Changes in Fund Net Assets
Year ended February 29, 2008
Operating Revenues
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Total Operating Expenses
Pxcluding Depreciation
Operating Income (Loss) Before Depreciation
Depreciation
Operating- Income (Loss)
Nonoperating Revenucs(Expenses)
Investment income
Interest expense
Bond expenses and amortization of discount
Total Nonoperating Revenues (Expenses)
Income (I oss) Before fansfers and Connibutions
Capital Contribution
Transfers In (Out)
General Fund
Central Business Tax Inciemcnt District fund
Economic Development Fund
Change in Net Assets
"Total Net Assets - Beginning of Year
Total Net Assets - Fad of Ycar
Business -type Activities -Enterprise Fund
Maple
'Total
Avenue
Motor Vehicle
Nonmajor
Garage
Parking
Proprietary
Fund
System
Funds
$ 1.429,538
$ 3,031,075
$ 4,460,613
162
52,092
52.854
1.429,700
3.093.767
4,513,407
514963
1.710,320 1.500,134
1,710320 2.01507
(280,620) 1,068,670
702,971 185,923
(983,591) 882847
227,709 94;759
(262,833) (202,094)
(6,316)
(41,440) (107,325)
(1,025,031) 775,522
495.286 -
(43,000) (517,200)
4,600,000 -
650,000 -
4,677,255 258.322
19,969A80 7,735.763
$ 24,646.735 $ 7,994.085
128 -
$
514,963
3,210.454
3,725,417
788,050
888.794
(100.744)
322,468
(464,917)
(6,316)
(149,765)
(249,509)
495,286
(56000)
4,600,000
650,000
4.935,577
27.705,243
32.640,820
CITY OF EVANSTON, ILLINOIS
Nonmalor ProprietaryFunds
Statement of Cash flows
Year ended February 29, 2008
Cash Flows from Operating Activities
Receipts bran customers and users
Receipts from unerfand services provided
Payments to suppliers
Payments to employees
Payments for nhei fund services provided
Net Cash Provided by (Used for) Operating Activities
Cash Flows from Noncapnal Financing Activities
Transfeis In (Glut)
General Find
Central Business Taz Increment District fund
Economic Development Fund
Net Cash Provided by Noncapilal Financing Activities
Cash Plows from Capital and Related Financing Activities
Acquisition and construction of capital assets
Principal paid on general obligation bonds
Interest paid on general obligation bonds
Net Cash (Used for) Capital and Related Financing Activities
Cash Plows from Investing Activities
Interest income
Net Cash Provided by Investing Activities
Net Increase (Decrease) in Cash and 13quivalenls
Cash and Bquivalcnts
Beginning of year
End of year
Reconciliation
Cash and equivalents
Urn esh icled
129 -
Business -type Activities-Enlena se Fund
Maple
Total
Avenue
Motor Vehicle Nonmajoi
Garage
Paikmg Proprietary
Fund
System Funds
$
1,438,073 $
3.082,758
$
4,520,831
5,500
-
5,500
(1,791,550)
(1,512,308)
(3,303,858)
(1314)
(512207)
(520,921)
175,327
8.218
183,545
(174,364)
1,059,461
885,097
(43,000)
(517200)
(560,200)
4,600,000
-
4,600,000
650,000
-
650,000
5207,000
(517,200)
4,689,800
-
(503,928)
(503,928)
(3,900,000)
(630,000)
(4,530,000)
(262,833)
(202,084)
(464,917)
(4,162,833)
(1,336.012)
(5,498.845)
227,709
94,759
322,468
227.709
94.759
322,468
1,097,512
(698,992)
398,520
5,061,996
2,105,875
7,167,871
$
6,159,508 $
1,406,883
$
7,566,391
$
6,159,508 $
1,406,883
$
7,566,391
$
6,159.508 $
IAW883
$
T566,391
CITY OF EVANSTON, ILLINOIS
Nonmalor Proprietary funds
Statement of Cash Plows - Continued
Year ended February 29, 2008
Reconciliation of Operating Income (Loss) to Net Cash Provided
by (Used for) Operating Activities
Operating income (loss)
Depeciahon
Changes in assets and liabilities
Other receivables
Notes recervable
Interfund receivable
Accrued interest receivable
Compensated absences
Accrued payroll
Interfund payable
Vouchers payable
01813 liability payable
Interest payable
Net Cash Provided by (Used for) Operating Activities
-130-
Business -hype Activities-EnterDrisc Fund
Maple
'Ibtal
Avenue
Motor Vehicle
Nonmalor
Garage
Parking
Proprietary
Fund
System
funds
$ (983,591) $
882,847 $
(100,744)
702,971
185,823
888,794
(1,166)
(6,009)
(7,175)
-
5,000
5,000
5,500
-
5,500
9,539
-
9,539
(1,714)
10,191
8,477
-
(18,972)
(18,972)
175,327
8,218
183,545
(81,230)
(4,018)
(85,248)
-
4,537
4,537
-
(8,156)
(8,156)
$ (174,364) $
1,059,461 $
885,097
CITY OF FVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
February 29, 2008
Assets
Current Assets
Cash and equivalents
Receivables
Accounts - billed
Accounts - unbdled
Other Receivables
Accrued interest
Inventory
Total Current Assets
Noncurrent Assets
Restricted cash and equivalents and investments
Capital Assets
Land
Consnuclion in progress
Capital assets being depreciated
Less accumulated depreciation
Total Capital Assets
Total Assets
Resh'icted Accounts
Operation and Bond Depreciation
Maintenance and Bond Improvement
Account Interest Reserve and Extension Totals
$ 2,150,903 $ 950,332 $ 2,710,348 $ 2,484.580 $ 8,302,163
861,425 - - - 861,425
856,067 - - - 856.067
- - - 20,419 20,419
- - 26,051 - 26.051
633.008 - - - 633.009
4,501.403 950,332 2.742.399 2,504,999 10,699,133
668-942 620,912 948.116 2,237,970
555,415 - - - 555,415
83,235 - - 3,383,123 3,466,358
63,200,114 - - - 63,200,114
(I6,856A 57) - - - (16,856,157)
46.982.607 - - 3383A23 50,365,730
$ 5L484,010 $ L619.274 $ 3.363.311 $ 6.836,238 $ 63,302.833
-131-
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Net Assets
February 29.2008
Liabilities and Net Assets
Current Liabilities
Voucheis payable
Vouches payable - ecso icted
hnecst payable - tesnietcd
Revenue bonds payable
Revenue bonds payable - restricted
Duc to other funds
Compensated absences payable
'total Curent Liabilities
Lon.— 'Penn Liabilities
Revenue bonds payable
011113 liabilty
Unanuntited bond discount on bonds payable
7'otal Long -'term Liabilities
'Total Liabilities
Net Assets
Invested in capital assets, net of iclated debt
Resn icted for debt service
Restricted for Capital haprovements
Unrestricted
Total Net Assets
`total Liabilities and Net Assets
I
Operation and
Maintenance
Account
27L394 $
425.000
146.851
465,685
1.308 930
2,245,000
19 327
15,806
2.280.133
3.589.063
Restricted Accounts
Bond Depreciation
and Bond Improvement
Interest Reserve and Extension
18.485
85,000
103.485
103,485
Totals
$ 248,714 $ 520,108
148,116 148,116
- 18.485
425,000
85.000
L227 148,078
465.685
48019,925 - -
- 565,457 620,912
(124,978) 950,332 2,742,399
47,894,947 L515,789 3,363,311
$ 51.484,010 $ 1,61U74 $ 3.363,311 $
132 -
398,057 1,810A72
398.057
2,245,000
19,327
15.806
2,280,133
4.090.605
3,383,123 51,403,048
- 1,180.369
800,000 800,000
2.255.058 5.822,811
6,438,181 59.212.228
6.836.238 $ 63.302.833
CITY OF EVANSTON, ILLINOIS
Water Fund
Schedule of Changes in Net Assets - Reserved - Restricted Accounts
Year ended February 29, 2008
Increases
Intrafund transfers in -
accordance with bond ordinance
unreserved retained earnings -
Operation and Maintenance
Transfer
Investment earnings
Total Increases
Decreases
Bond principal
Bond interest
Purchase of capital assets
Transfer to Insurance Fund
Payment of expense
Total Decreases
Net Increase (Decrease)
Net Assets
Beginning of year
End of year
Bond Depreciation,
and Bond Improvement
Interest Reserve and Extension Totals
$ - $ - $ 2,435,500 $ 2,435,500
2,000,000 2,000,000
92,421 160,515 132,259 385,195
92,421 160,515 4,567,759 4,820,695
489,167 - 489,167
125,746 - - 125,746
- - 209,150 209,150
- - 2,000,000 2,000,000
2,048 120 50,913 53,081
616.961 120 2,260,063 2,877,144
(524,540) 160,395 2,307,696 1,943,551
2,040,329 3,202,916 4,130,485 9,373,710
$ 1,515,789 $ 3,363,311 $ 6,438,181 $ 11,317,281
-133-
CITY OF EVANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Revenues, Expenses, and Changes in Unreserved Net Assets - Budget and Actual
Year ended February 29, 2008
With Comparative Totals for the Year Ended February 29, 2007)
Operating Revenues
Charges for services
Miscellaneous
Total Operating Revenues
Operating Expenses Excluding Depreciation
Administration
Operations
Pumping
Filtration
Meter maintenance
Distribution
Other
'folal Operating Expenses Excluding Depreciation
Operating Income Before Dcpeciation
Depreciation
Operating Income
Nonopctating Revenues (Expenses)
Investment income
Interest expense
Bond expenses and amortization of discount
Net book value of capital assets disposed
Total Nonoperating Revenues (Expenses)
Income Bef'oie'Ci anstets
Transfers hr (Out)
'17ans1er In
Transfer Out
Total Transfers In (Out)
Net Income
Other Changes in Unreserved Net Assets
Inuafund transfers in (out) - net assets -
reserved - restricted accounts
Increase in Unreserved Net Assets
Unreserved Net Assets
Beginning of year
lied of year
134 -
Prior Year
Budget
Actual
Actual
13,158,800
$ 12,791,917
$ 12; 194;340
339A00
446,705
444.803
13,49&200
13,238,622
12.639,143
782,100
668.969
642,519
2,264,900
2,130;547
1,864,554
2;053,200
1,798,666
1784,406
328,400
313,627
301,278
1,406,100
1,236,655
11280,427
868,600
936.SI1
908,744
7.703,300
7,084.975
6,781.927
5,794,900
6; 153;647
5,857,216
-
1,405.617
1,384,583
5,794,900
4.748.030
4A72,6.33
50,000
163,197
189,392
-
(125,746)
(142,359)
-
1,129
1,129
-
-
(4,684)
50,000
38580
43,478
5.844900
4.786,610
4.516,111
-
2,000,000
2,000,000
(2,693,600)
(4.693,600)
(4,693,600)
(2.693,600)
(2,693,600)
(2,693,600)
$ U51,300
2,093,010
1,822,511
(1.611.437)
1.325,647
481,573
3,148,158
47AI3.374
44.265,216
S 47.894,947
$ 47,413,374
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CITY OF 1 VANSTON, ILLINOIS
Water Fund - Operation and Maintenance Account
Schedule of Operating Revenues - Budget and Actual
Year ended February 29, 2008
(With Comparative Totals for the Year Ended February 28, 2007)
Charges for Services, Net
Water Sales
Evanston
Skokie
Northwest Water Commission
Total Charges for Services
Miscellaneous
Fees and outside work
Fees, merchandise and other
Total Miscellaneous
Total Operating Revenues
Prior Year
Budget
Actual
Actual
$ 6,263,900
$ 6,012,643
$ 5,804,517
3,175,300
3,158,396
2,891,834
3,719,600
3,620,878
3,497,989
13,158,800
12,791,917
12,194,340
80,000
97,437
92,618
259,400
349,268
352,185
339,400
446,705
444,803
$ 13,498,200
$ 13,238,622
$ 12,639,143
135 -
This page has been intentionally left blank,
Internal Service Funds
Internal service funds are used to account for the financing of goods or services provided by one department or
agency to other departments or agencies of the government and to other government units, on a cost
reimbursement basis.
Flect Services Fund - to account for the costs of operating the municipal service center maintenance facility for
transportation equipment used by other City departments. Such costs are billed to the user departments at actual
cost. Actual costs include depreciation on the transportation equipment.
Insurance Fund - to account for the costs of adminstering general liability claims and workers' compensation
programs. Such costs are billed to the General Fund.
CITY Or LVANSTON, ILLINOIS
Internal Service Funds
Statement of Net Assets
February 29, 2008
Flect Services
Insurance
Totals
Assets
Current Assets
Cash and equivalents
$ 441,760
$ 360,022
$ 801,782
Investments
1,057,590
5,871,041
6,928,631
Receivables - other
27,299
-
27,299
Inventories
373,030
-
373,030
Total Unrestricted Current Assets
1,899,679
6,231,063
8,130,742
Capital Assets
Cost
19,968,930
-
19,968,930
Accumulated depreciation
(14,269,777)
-
(14,269,777)
Total Capital Assets
5,699,153
-
5,699,153
Total Assets
7,598,832
6,231,063
13,829,895
Liabilities and Fund Equity
Current Liabilities
Vouchers payable
256,878
22,246
279,124
Compensated absences payable
101,620
-
101,620
Claims payable
-
3,349,952
3,349,952
Due to other funds
41,048
1,066
42,114
Total Current Liabilities
399,546
3,373,264
3,772,810
Long -'Perm Liabilities
OPEI3 Liability
5,883
-
5,883
Claims payable
-
3,278,500
3,278,500
Total Long -Term Liabilities
5,883
3,278,500
3,284,383
Total Liabilities
405,429
6,651,764
7,057,193
Net Assets (Deficit)
Invested in capital assets, net of
related debt
5,699,153
-
5,699,153
Unrestricted
1,494,249
(420,700)
1,073,549
Total net assets (deficit)
$ 7,193,402
$ (420,700)
$ 6,772,702
136 -
CITY OF EVANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Revenues, Expenses, and Changes in Net Assets
Year ended February 29, 2008
Fleet Services
Insurance
Totals
Operating Revenues
Charges for Services
General Fund
$ 4,317,800
$ 1,900,000
$ 6,217,800
Sewer Fund
258,600
-
258,600
Water Fund
331,200
331,200
Motor Vehicle Parking System Fund
111,800
-
111,800
Miscellaneous
10,814
11,079
21,893
Total Operating Revenues
5,030,214
1,911,079
6,941 _93
Operating Expenses
General support
368,314
-
368,314
Major maintenance
3,173,189
3,173,189
Vehicle body maintenance
13,042
-
13,042
General liability claims
-
1,887,569
1,887,569
Workers compensation claims
-
1,217,019
1,217,019
Other
852,784
852,784
Total Operating Expenses
3,554,545
3,957,372
7,511,917
Operating Income (Loss) Before Depreciation
1,475,669
(2,046,293)
(570,624)
Depreciation
1,397,026
-
1,397,026
Operating Income (Loss)
78,643
(2,046,293)
(1,967,650)
Nonoperating Revenues (Expenses)
Investment income
7,590
243,166
250,756
Gain (loss) on disposition of assets
16,401
-
16,401
Total Nonoperating Revenues (Expenses)
23,991
243,166
267,157
Income (Loss) before Operating Transfers
102,634
(1,803,127)
(1,700,493)
Transfers In (Out)
Water Fund
-
2,000,000
2,000,000
Change in Net Assets
102,634
196,873
299,507
Total Net Assets (Deficit) - Beginning of Year
7,090,768
(617,573)
6,473,195
Total Net Assets (Deficit)- End of Year
$ 7,193,402
$ (420,700)
$ 6,772,702
Continued
- 137 -
CITY OF ; VANSTON, ILLINOIS
Internal Service Funds
Combining Statement of Cash Flows
Year ended February 29, 2008
Fleet Services
Insurance
Totals
Cash Flows from Operating Activities
Receipts from customers and users
$ 5,105,516 $
1,956,004 $
7,061,520
Receipts from interfund services provided
125,664
271
125,935
Payments to suppliers
(3,194,290)
(1,832,211)
(5,026,501)
Payments to employers
(371,584)
(1,218,408)
(1,589,992)
Net Cash Provided By Operating Activities
1,665,306
(1,094,344)
570,962
Cash Flows from Noncapital Financing Activities
Transfers In (Out)
Water Fund
-
2,000,000
2,000,000
Net Cash Provided by Noncapital Financing Activities
-
2,000,000
2,000,000
Cash Flows from Capital and Related Financing Activities
Sale of capital assets
16,401
-
16,401
Acquisition and construction of capital assets
(300,429)
-
(300,429)
Net Cash Used for Capital and
Related Financing Activities
(284,028)
-
(284,028)
Cash Flows from Investing Activities
Purchase of investments
(1,057,590)
(1,043,166)
(2,100,756)
Interest income
7,590
243,166
250,756
Net Cash used for Investing Activities
(1,050,000)
(800,000)
(1,850,000)
Net Increase in Cash and Equivalents
331,278
105,656
436,934
Cash and Equivalents
Beginning of year
110,482
254,366
364,848
Bndofyear
$ 441,760 $
360,022 $
801,782
Continued
138 -
CITY OF EVANSTON, ILLINOIS
Combining Statement of Cash Flows - Continued
Internal Service Funds
Year ended February 29, 2008
Reconciliation of Operating Income to Net Cash
Provided by (Used for) Operating Activities
Operating Income
Adjustments to reconcile operating income to
net cash provided by (used for) operating activities
Depreciation
Changes in assets and liabilities
Increase/decrease in A/R miscellaneous
Other receivables
Interfund receivable
Inventories
Compensated absences
Accrued payroll
OPEB Liability
Accounts payable
Vouchers payable
Claims payable
Net Cash Provided By (Used For) Operating Activities
- 139 -
Fleet Services Insurance Totals
$ 78,643 $ (2,046,293) $ (1,967,650)
1,397,026 - 1,397,026
84,025
-
84,025
(8,723)
44,925
36,202
125,664
271
125,935
(18,072)
-
(18,072)
18,147
-
18,147
(27,300)
(1,389)
(28,689)
5,883
5,883
8,851
(24,110)
(15,259)
1162
-
1,162
-
932,252
932,252
$ 1,665,306 $ (1,094,344) $ 570,962
This page has been intentionally left blank.
AGENCY FUND
This page has been intentionally left blank.
CITY OF EVANSTON, ILLINOIS
Special Assessment Agency Fund
Statement of changes of Assets and Liabilities
Year Ending February 29, 2008
Assets
Current Assets
Cash and short term investments $
Total Assets $
Liabilities
Due to special assessment bondholders $
Beginning of
Year Additions Deletions
21,073 $
21,073 $
21,073 $
Total Liabilities $ 21,073 $
140-
End of
Year
$ 21,073
$ 21,073
$ $ 21,073
$ $ 21,073
This page has been intentionally left blank.
STATISTICAL SECTION (UNAUDITED)
This page has been intentionally left blank.
Statistical Section
This part of the Government's comprehensive annual financial report presents detailed
information as a context for understanding what the information in the financial
statements, note disclosures, and required supplementary information says about the
Government's overall financial health.
Contents
Financial Trends
These schedules contain trend information to help the reader understand how
the Government's financial performance and well-being have changed over
time.
Page
141-144
Revenue Capacity 145-147
These schedules contain information to help the reader assess the
Government's most significant local revenue source, the property tax.
Debt Capacity 148-150
These schedules present information to help the reader assess the affordability
of the Government's current levels of outstanding debt and the Government's
ability to issue additional debt in the future.
Demographic and Economic Information 151-152
These schedules offer demographic and economic indicators to help the reader
understand the environment within the Government's financial activities take
place.
Operating Information 153-158
These schedules contain information about the Government's service and
resources to help the reader understand how the Government's financial
information relates to the services the Government provides and the activities it
performs.
Sources, Unless otherwise noted, the information in these schedules is
derived from the comprehensive annual financial reports for the relevant
year. The Government implemented Statement 34 in 2003, schedules
presenting government -wide information include information beginning in
that year.
CITY OF EVANSTON, ILLINOIS
Net Assets by Component
Last five Fiscal Years
(accrual basis of accounting)
(amounts expressed in thousands)
Governmental Activites
Invested in Capital Assets, net of related debt
Restricted
Unrestricted
Total Governmental Activities net assets
Business -type Activities
Invested in Capital Assets, net of related debt
Restricted
Unrestricted
Total Business -type Activities net assets
Primary Government
Invested in Capital Assets, net of related debt
Restricted
Unrestricted
Total Primary Governemnt net assets
Note: A 'I en Year history is not vet available.
Source: City Finance department
Fiscal Year
2004 2005 2006 2007 2008
$ (9,753) $ 426 $ 34,428 $ 31,133 $ 31,952
33,415 32,811 31,169 30,034 23,168
32,861 43,010 15,408 25,171 27,821
$ 56,523 $ 76,247 $ 81,005 $ 86,338 $ 82,941
$ 103,339 $ 114,442 $ 129,084 $ 140,621 $ 159,185
11,158 11,274 10,449 9,374 1,986
23,332 21,478 23,483 21,417 23,589
$ 137,829 $ 147,194 $ 163,016 $ 171,412 $ 184,760
$ 93,586 $ 114,868 $ 163,512 $ 171,754 $ 191,137
44,573 44,085 41,618 39,408 25,154
56,193 64,488 38,891 46,588 51,410
$ 194,352 $ 223,441 $ 244,021 $ 257,750 $ 267,701
- 141 -
C1'I'Y Of EVANS'ION, ILLINOIS
Ch.rrrges rn No A<Scts
Last Iba PISaal Yew,
(accrual bnsrs of acconnong)
(amoums capressed In thousands)
M"al fear
1_001
2005
2006
2007
2008
tapen,e\
(iV„CI Ilnlfnitl Aet,tr
General govcmment
b
15,791 S
14451 S
19,537
S 19,951 S
20,072
PW,, Snfcty
39,237
31,168
45,95)
16,368
48,763
Publm\Yin As
13,005
14,225
14,632
16,505
21566
I Icalth &; Ilun,an 1(esource Devdopn,ern
5,370
5,943
4,781
6,108
4,982
110usrny& Economre Derdopmcnt
5,973
6,]5]
6,850
7,924
7,090
('ultme.v,d l(ecutmm,
17,129
1 276
1?792
19,303
20,634
Interest on Lon -m'u Debt
490Q
5OR6
5874
6916
5.5"
9blal govemmental acovraex c... ... s
101 A65
95,806
117,417
12 085
128630
Busn es, -type ACOV10es
Water
8,992
8,176
8760
8,]]8
c,ee8
Se",
8,964
.8,781
9,219
9,588
8,972
Motor velt,,k Parking system
.3,468
4,777
2,904
2,963
2,403
Shern,nn garngc
-
-
-
1,613
1,270
Maple avenue",a'
3,028
3.148
3,096
2910
2,682
I end lsrurneas-ry4x Ac0\maa
24452
24,882
23979
25,952
2G.9%
Total plrmvy govcmnsm eapeuus
S
125917 S
120(M b$
1141396
S 147,937 S
155,625
1'rognun 12evenues
Go\ cnnnental Aem nes
Charges for Se ... ces
General goven,mcm
S
12,750 S
13,262 b
13,060
S 11.630 S
1=639
Ctdmre and R.rcab9n
3,739
1,731
4,310
4,353
4,521
Other aet,,'
6,799
9.253
10,293
tl ]]9
14,51S
Operan, grw, and contnbulaons
3,490
3,713
3,441
3G79
5,982
Copnal (n:nns;md Centllbonm,s
1.459
212
_ _ 1,127
185
118
"Total go rTimenml:¢omacs pragrtm revenues
2%22]
301]I _.
_1-211.
._. 30 G26
37778
13us,ness-b'pc acumees
Charges for Sel vrccs
Wme,
13,478
13,187
13,9el
12,639
13239
Saver
15,436
14913
16,0]]
14,304
14,239
Shin man gar age
-
-
-
]]9
1950
Minor vch,elc parkrng,ystcm
3,266
3,011
2,965
3,059
3,084
Maple avenue garage fund
1263
1512
I.G??
1417
1430
rotal l3usmess- Ope ad,,mes Program luwenmr<
31j43
32623
34,15
31288
33941
Itoel pnn,ap•gormnn,nnt program revenues
S
616]0 S
62.794 b
66.856
S G?,o I4 $
11 N9
Net (e,,.,e)hevenor
Govemmcmal :,trvinc<
(71238)
(05,635)
(85,18G)
(91459)
(ory852)
Buwus,-type acOv4us
8991
___]741
10640
_G,436
GBAS
Total l'nnmp(io\emrnent-1eepen,e
(64,^_47)
(57,891)
(71,510)--(85,023)
(83,906)
General 1(evenaes and Odtcr Change\ in
Net A,vet,
(iovc,nmemal Acnvae<
1.+a<a
Properly taxes
b
75,929 S
]9,]15 S
89,810
S 61,983 S
4(594]
Sales m'e<
345
345
-
14,387
IgIT_
h"'t eat cannngs
1,710
1547
2997
3,752
3653
Mt,oellancons
2,096
,19%
1,412
17,287
25,791,
1',arnfers
1_4_i31�
�1 2441
li 2]]1
fGIGI
15 II6]
]5.]45
85,359
89,942
96,793
87,455
Punt Balance Apphed
'Total novel nnuvtA activ it,
]5,]45
95359
84942
%,793
8'/A55
Busrnee,typr adnmc,
Invcnt.1110 carnmg<
143
380
896
1,344
1287
I mnsfcry
4335
_ 1�9_t .......
_-1,6_1
A17]
GIG
5.110
TOM busa,evs-type amrvne<
_
_. 4,08
5,173
060
6,403
Total..... gmrrn e"'t
b
5�0;123 S
86,983 S
05,115
S--�_08,753 S
93,858
Changes in Net A,Os
(3",...n,rntnl aotrvnres
b
2,507 S
19,724 S
4,756
S 5334 b
(1,397)
Buaness-type"et"te<
_ 13,669
9365
1581n
9.396
11149
"l oral prrn,a}omcr, nca
S
IG 1]G $
29,089 $
20,575
F .I3730 S
?'S1
%o',' ,lty Dnvme Aenanment
Net, A re. l' , IUamn a nut, et.n.nL,ble
142-
CITY OF EVANSTON, ILLINOIS
Fund Balances, Governmental Funds
Last Ten Fiscal Years
(modified accrual basis of accounting)
(amounts expressed in thousands)
General Fund
Reserved
Unreserved
Total flcneral fund
All Other Govermnental Finds
Reserved
Unreserved, reported in
Special revenue funds
Capital Projects Funds
Total all other m ernmemal finds
Fiscal }car
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
S 965
S
745
S
3,104
S
2,820
S
4.614
S
4.665
S
7,948
$
6,027
$ 1,327
S
L108
7222
9,327
11341
12d38
13,110
14375
15209
18.804
24,866
24,840
$ 8.187
S
M072
S
14A45
S
15,258
S
17,724
S
19,040
S
23,157
S
24.831
S 26, 193
S
25,948
$ 27,054
S
26,867
S
23.014
S
25,683
S
29,211
S
28,750
S
30,761
S
33.937
$ 31,741
$
29339
4959
5,033
6371
7,507
60,514
4,617
5,249
5,171
5,587
6.649
13.564
14,494
27222
12,648
-
58 816
49A76
31,696
21965
25,620
S 45,577
S
46.394
S
56,607
S
4M38
S
89,725
S
92,183
S
85.486
S
70.804
$ 61,293
S
62,008
Note Fund balances for debt sm ice have been included in the reserved amounts
Source: City Finance department
143-
CITY OF EYiS$TOF, ILLINOIS
Changes m Fund Balances, Governmental Funds
Last Ten Fiscal Years
pnodt6ed accrual bans ofaccounnngl
(amouuls expressed ut thousands)
Rt,erut,
Tames
Linenses, fees and Permns
Pores and penalties
Charges for se, aces
Spcctal Assessments
Intcruot ernmental
Inn eshncnt Esnmes
Other Re.cnu,s
Total Roenues
Expenditures
General G.,,ruuem
Pubhc Safety
Pubhc R'orks
Reacanon and cultural opponuonws
licalth and Human De,lepinent
liausmg and Ecanonvc Dn elopment
Pcusuans
Capnul Outla}
Debt Se,, ice
Interest
Fiscal went fees
Pnnnpal
Total po,ernmemal an, nws e<pendrturc
Net (cvpense)Ye erue
Governmental acmanes
Ocher linanemg50urees(uses)
Proceeds from borrov.mc
Pas mentrProceeds from refundmc
Capnahzcd mtcrest income
Capnahzed interest pen,e
Proceeds sale "."M.,bther
Reducaon m lone Iann debt
Escro.. funning
Tram .
Transfers (out)
Total Other financing sources (uses)
Net Changes in Fund Balance
Debt Sen me as a percentage of
non<zprcal e.oendmucz
Saur<e Cu, Financedepanutent
Fiscal Pent
Mg 2000 2001 200'- 2003 2004 2005 2006 2007 2008
S 56,n16 S
62,332 S
67,585 S
6S749 S
59,814 S
53331 S
66744 S
75,661 S
77,137 S
75,767
4,IS7
5,133
6.436
7,405
6,459
6.690
6,773
9,164
8,061
10,276
2331
2,625
;782
3,242
3,742
M0
3.999
3,7Sl
4029
4,660
-998
4,860
5,491
5,515
6,262
5,90%
6.053
6,905
7,167
7)32
-
-
-
-
M
217
365
546
%5
520
5,640
7,259
5,449
5,859
1%116
18586
21618
21,106
21402
2,62S
2,204
2,477
339j
2458
1.55
1G50
1540
2,970
3,695
3,402
"
4399
4300
4976
6.859
6953
n.451
5,312
5573
5116
80,508
89,335
95,339
98,204
102,715
108,098
116,543
125,945
12,634
130,098
S,386
9,732
10,107
13,025
12,565
13,365
1{C•GG
15,601
14,539
IS,190
22,182
22.505
23,928
25,454
32093
33,896
36,323
39,094
39690
42,466
10,434
12,678
1_037
11,05
10,847
11.119
12,070
13,242
14,'82
18,863
10,590
11130
1^_,107
I3.02S
13,i12
14,287
15,493
16,526
16,683
19,118
4,]12
4.342
4,i44
4621
4,539
5,272
5,801
4.566
5,850
4,9S2
5.335
7,013
5.620
u293
5,652
5,852
6,7 17
6,646
7,633
7,089
8,515
S,537
5301
9277
4,209
2,6SS
1372
4,62E
5,645
-
4944
6.047
10464
16.337
13301
9941
IS208
42.087
IS aSb
12,416
4,-,67 4,529 4,770 4,339 4,846 5.163 5,027 5,S57 1,e27 5,123
359 323 517 42
7.421 6,18S 6,325 6,300 6585 9,385 i885 7,696 1153n 10,915
S, i88 93,101 9S.e03 110 S'_9 108,659 1 10098 123 021 15(260 142 332 139 114
(6,230)
(i %6)
(3,564)
(1],6251
(5044)
(2,900)
(7,379)
130,115)
(14,698)
(9,016)
S 7.184
$ 1,25l S
15314 S
-
S 57066 S
24,917
S .5,724
S 31,332 S
24,9i6 S
31444
-
(32.2:)
_
_
-
-
_
_
-
-
-
-
773-
-
(773)
-
-
(355)
-
45
-
?IS
40
-
-
-
-
-
_
(I001
-
-
-
-
(407---)
(12,718)
1113SG)
(6626)
(14,36S)
(15,590)
5,854
7,705
3,526
5,619
8.259
9,762
6,020
7.032
6,529
9,975
(33'_31
(<174)
(1_210)
(3893)
t9572)
(15.^_S71
115062)
(14432)
(10528
(15344)
0 v 15
7.605
1(G30
2.044
51,621
6,6)4
4 796
171.306
6,549
9,4SS
S 3,435
S 3,640 S
13,066 S
OUSI)
S 45,577 S
3J74
S (2532)
S (13009) S
(8,149i S
469
143001
lz zs%
1255°
1132°a
11 99%
144Tx
I221°o
1137o
149Vs
1253%
144 -
CITY OF EVANSTON, ILLINOIS
Assessed Value and Actual Value of Taxable Property
Last Ten Fiscal Years
Levy
Total Taxable
Total
Total
Year
Residential
Farm
Commercial
Industrial
Raihoad
Assessed
Actual
Tax
Ended
Property
Propert`'
Property
Property
Prooertv
Value
Value
Rate
1997
702.987.666
16.895
396.349.777
79242479
317J86
1, 178.91403
3.536.743.809
2069
1998
789.833.544
16.895
413,956,877
90,809,247
293.665
L2949t0.228
3.884.730.684
1.888
1999
82L467.155
16.895
406,217,660
72.384.000
286.492
1,300372.202
3901.1I6.606
1.934
2000
828.097.184
16.895
390321.697
6T725.714
298.315
L286.459.805
3.859.379.415
2.033
2001
1,105269.184
16.895
459.256.602
50.985,114
311.382
L615.839,177
4,847,517.531
1628
2002
1,202.783,327
16.895
467,795.729
66.579.781
368,172
L737.543.904
5.212.631.712
1,609
2003
1,221.970,442
16.895
435.093,531
69.669.560
397A56
1,727,147.884
5,181,443.652
1.698
2004
1,543.464,139
16,895
479.999.412
7L684,555
446.570
2095.611.570
6.286.834.710
1.528
2005
L680.183.692
16.895
500,330.397
61.756.603
465.435
2241753.022
028.259.066
1491
2006
L707,669.215
16,895
476,821.737
60.920,888
464,011
1245.892,746
03T678.238
1527
Note* Property is reassessed once ever} three years. Property is assessed at 1/3 actual value. Tae rates are per $100 of assessed value
Source- Cook County Assessors office
-145-
CITY Or EVANSTON, ILLINOIS
Principal Properh. Tax Payers
Current year and Nine Years Ago
Tax Paver
Golub & Compan}
REP CBRE
Rotary International
Church Street Plaza
Church & Chicago LTD Partnership
Omni Ornngton Hotel
Evanston Plaza Freed
Evanston Hotel Assoc
Albertson Propem Tar
Rap Sum Properties LLC
Total
Total EAV
Source Cook County Assessor's office
2007 (2006 EAV)
1998 (1997 EAV)
Percentage
Percentage
Total
of Total Cih
Total
of Total City
Equalized Assessed
Taxable
Equalized Assessed
Taxable
Value (EAV 1
Rank
EAV
Tax Paaer
Value (EAV)
Rank
EAV
22187,724
1
1 30%
Rotary International
16,501,419
1
1 44%
21,716,555
2
097o
Washington National
10,97(L919
2
096%
21,533,721
3
0 96%
Davton Hudson
10,720.627
3
0 93°10
17,782,965
4
0 79%
Home Depot
8,727,134
4
0 76%
14,786.152
5
0 66%
1800 Sherman Ave.
8,670,143
5
0 75%
13,76L924
6
061%
The Sha%N Cc
8,33L189
6
0730;
13,373,273
7
060%
Balcor Cc
7,816,871
7
068°0
12,251240
8
055%
St Francis Hospital
7726,712
8
067%
9,461,347
9
0.42%
Presbyterian Homes
7,716,255
9
0 67%
9327365
10
0 42%
Orrington Hotel
6,812,743
10
0 59%
163,182266 727%
2,245,892,746 Total EAV
93,994,012
1,148,604,617
8 18%
-146-
CITY OF EVANSTON, ILLINOIS
Property Tax Levies and Collections
Last Ten Years
Tax
Taxes Levied
Collected
Receipts
Collections
Total Collected to Date
Levy
for the
Percentage
in Subsequent
Percentage
Year
Fiscal Year
Amount
of Lew
Years
Amount
of Lew
1998 S
23,757.032 S
23,221913
97.76% S
544,880 S
23,768.793
100.05%
1999
25.137,352
24,468,693
97.34%
425,270
24,8937963
99.03%
2000
267217,646
25,319,911
96.58%
421,153
25,741.064
98.18%
2001
26,305,327
25,391.349
96.53%
442,216
25,833,565
98.21%
2002
27,957,126
27,286,591
97.60%
254,154
27,540,745
98.51%
2003
29,813,787
28,565A08
95.81%
365,901
28,931109
97.04%
2004
32,100,657
30,991,234
96.54%
412,246
31,403A80
97.83%
2005
33.423311
32,5507464
97.39%
613,876
33,164,340
9923%
2006
34399,146
29,516,639
85.81%
383,107
29,899,746
86.92%
2007
35,550.694
See Note below
0.000/o
See Note below
-
0.00%
Source: City Finance department
Note: Levy Year 2007 is currently being collected through Feb 09
-147-
CITY OF EVANSTON, ILLINOIS
Ratio of General Bonded Debt Outstanding
Last Ten Fiscal fears
(2)
Net
Gross
(3)
Net
General
(1)
General
Debt
Debt
Net
Debt to
Obligation
Fiscal
Equalized
Obligation
Service
Payable
General
Equalizcd
Bonded
Year
Assessed
Bonded
Monies
From Other
Obligation
Assessed
Debt
Ended
Population
Valuation
Debt
Available
RevenitcS
Debt
Valuation
Per Capita
1999
73,233
L256,996,184
IX976,752
ck178.055
68,025,000
58373.697
4 68%
802.56
2000
73.233
1300.372,202
128.98L760
4,182.913
64,175.000
60.623,847
4.6690
827.82
2001
74.239
1286A59,805
156.955,729
4,562.562
91.710.000
60,683J(57
4.720''.
817.40
2002
74239
1.615,839,177
147,832.588
5,193.168
86,835,000
55,804.420
3.45%
751.69
2003
74239
L71U(53,113
194,086,731
6,942,441
123320.000
63,424190
3.7ION.
85433
2004
74,239
1.737.543.904
191,073.334
6.591437
114A45,000
70,035,897
4.03%
94338
2005
74239
1,727,147.885
187.110.000
6.678359
106.935.000
73.496.641
4260,0
990.00
2006
74,239
2,095,611.570
195,875.000
6,551,304
110,212500
79,111.196
3.78%
L065.63
2007
74.239
2.242753.022
187.745.000
6.504,507
96,780.000
84,460A93
3.7746
I, 137.68
2008
74,239
2,245,892,746
181.750.000
6, 146.567
81,455.000
947148,433
4.19%
1,268.18
Notes
(1) Equalized assessed zaloes do not include lax increment financing district incremental equalized assessed values
(2) Includes contracts payable from goNermnental funds Excludes limited purpose special service district bonds and generat obligation notes payable under line of
credit %%ah Northoestern Universn,%
(3) These amounts include the general obligation bonds that are being repaid from the Sewer Fund, the Flcet Service Fund, the Motor Vehicle Parking System Fund,
the Central Business Tax Increment District Fund. the Howard Hartre:i Tax Increment Tax District Fund, the Southwest Tax Increment District Fund, the
Washington National Tax Increment Tax District Fund, the Emergency Telephone System Fund, the Maple Street Parking Fund, recycling rcecnucs of the General
Fund, certain dedicated Water Fund revenues, and properptax from the defeased Special Service District No 5 Bonds that is not being abated
Source Cook County and Q(y Finance department
-148-
CITY OF EVANSTON, ILLINOIS
Direct and Overlapping Governmental Activities
As of February 29, 2008
Direct debt - bonds, notes, and
contracts outstanding
Other bonded debt
County of Cook
Cook County Forest Preserve District
Metropolitan Water Reclamation District
High School District 202
School District 65
Skokie Park District
Total Overlapping Debt
Total Direct and Overlapping Debt
Source: Cook County
Percentage
of Debt
City of
Applicable
Evanston's
Total to City of
Share of Debt
Outstanding, Evanston
(1)
$ 105,860,000 100.000% $ 105,860,000
2,953,610,000
121,270,000
1,453,547,772
10,806,445
37,565,000
19,427,836
4,596,227,053
$ 4,702,087,053
WIME
1.557%
45,987,708
1.557%
1,888,174
1.589%
23,096,874
88.620%
9,576,672
88.620%
33,290,103
0.678%
131,721
113,971,252
$ 219,831,252
CITY OF IEVANSTON, ILLINOIS
Pledged -Revenue Coverage
Last Ten Fiscal Years
Water Revenue Bonds
Utility
Less:
Net
Fiscal
Service
Operating
Available
Debt Service
Year
Charees
Expenses
Resources
Principal
interest
Coverase
1999
13,192,965
5,416,366
7,776,599
1,907,500
639,234
3.05
2000
13,709,645
5,602,297
8,107,348
2,170,000
666,466
2.86
2001
13,509,413
5,430,908
8,078,505
2,245,000
589,559
2.85
2002
13,005,269
5,670,480
7,334,789
2,325,000
494,210
2.60
2003
13,687,288
9,347,238
4,340,050
2,200,000
343,795
1.71
2004
13,583,515
7,056,290
6,527,225
805,000
235,913
6.27
2005
13,338,642
6,395,231
6,943,411
805,000
206,575
6.86
2006
14,380,966
6,705,865
7,675,101
865,000
177,355
7.36
2007
13,196,942
6,900,063
6,296,879
470,000
145,088
10?4
2008
13,787,014
7,138,056
6,648,958
485,000
128,713
10.83
Note: Detail regarding the city's outstanding debt can be found in the notes to the financial
statements. Operating expenses do not include interest, depreciation, or amortization
expense.
Source: Various City departments
-150-
CITY OF EVANSTON, ILLINOIS
Demographic and liconomic Statistics
Last Ten Years
Per
Capita
Education
Personal
Median
Level in Years
School
Unemployment
Year
Population
Income
Ape
ofSchooline
Enrollment
Rate
1999
73,233
29,372
31.9
13.6
9,433.0
3.6%
2000
73,233
30,068
31.9
13.6
10,0680
3.5%
2001
74,239
30,068
31.9
116
9,999.0
4.2%
2002
74,239
33,645
32.5
13.6
10,889.0
5.0%
2003
74,239
36,296
32.5
13.6
9,766.0
5.4%
2004
74,239
36,296
32.5
13.6
9,849.0
5.0%
2005
74,239
37,384
32.5
13.6
9,740.0
5.0%
2006
74,239
39,103
32.5
13.6
9.550.0
4.5%
2007
74,239
39,103
32.5
13.6
9,550.0
4.4%
2008
74,239
39,103
32.5
13.6
9,550.0
4.6%
Source: Various Government agencies
151 -
CITY OF EVANSTON, ILLINOIS
Principal Employers
Current Year and Ten fears Ado
2008
1998
Employer
EmploNec
011.
Rank
Emplocer
Emolovees
%
Rank
Northwestern University
5325
36%
1
Northo estern University
5,900
36%
1
Evanston Northoestern Healthcare
3,780
25%
2
Evanston Norilioesteni Healthcare
4,300
26%
2
St Francs Hospital
1,649
11 %
3
St Francis Hospital
2,000
12%
3
City of Evanston
IMo
7%
4
Evanston School District 65
1,200
7%
4
Evanston School District 65
700
5%
5
Citz of Evanston
832
5%
5
Evanston Toonship High School
566
4%
6
Presbyterian Homes/MeGaw Care
610
4%
6
Presbyterian HoniesMcGao Care
533
4%
7
Evanston Too nship High School
500
3%
7
Rotary International
460
3%
8
Rotary International
450
3%
8
Jewel/Osco Food Stores
455
3%
9
National Louis Unn crsity
300
2%
9
Mather LifcA'ays Retirement
450
3%
t0
Shand Morahan Cc
175
1 %
10
Total
14 918
16,267
Source City Economic Development Division
Morris Robinson
152 -
CITY OF EVANSTON, ILLINOIS
Full-time Equivalent Oh Go�ermnent Employees by Function
Last Ten Fiscal Tears
Fanchon/l'rouram
General Government
City Clerk
Cny Manager's Office
MBIS
Lc�al
Human Resources
Finance
Facilities Management
Communn7 Development
Police
Fire
Human & Health SerWees
Public Works
Human Relations
Library
Recreation. Parks& Forestre
Total General Fund
Emergency 'telephone System
CDBG
Economic Development Fund
Do, ntoo'n 11 TIE Fund
Maple Ave Garage
Parking Sy stems
Special Engineering
Water
Sewcr
Fleet Sen ices
Insurance Fund
Total Other Funds
Total All Funds
Fiscal Year Ended
1999 2000 2001 2002 2003 2004 2005 2006 2007 2003
300
300
300
300
300
200
200
200
200
200
805
805
755
755
755
725
725
725
725
1370
1475
1675
1775
2075
21 50
21 80
2280
2480
23 80
25 50
650
650
750
750
600
600
700
700
700
700
900
900
Soo
Soo
Soo
700
700
700
Soo
800
23 50
23 50
2600
2700
2600
2450
2450
2650
25 50
26 50
23 00
2300
2300
2400
2100
2300
23 10
21 10
21 20
-
36 00
3600
3800
3800
3600
3400
3600
3600
3600
3600
22700
211 00
21 180
214 80
21230
213 80
217 50
21950
221 75
22075
Mod
10900
10900
10900
10900
10900
10900
11000
ill 00
Ill 00
4507
45 93
4573
4503
41 73
3954
3930
3930
40 15
2968
85 51
92 51
91 50
9050
9000
9000
9025
9125
9025
10845
400
400
400
400
4.00
400
400
400
400
-
65 52
6552
65 52
6637
67 17
6620
6665
67 18
67 19
6669
8707
9338
11222
12482
12225
11394
11920
121 30
11990
115 90
74597
747 14
77057
79032
777 50
76203
775 55
784 18
78499
771 17
200
200
300
300
300
400
400
400
400
400
200
200
200
3 50
200
100
200
200
2 00
200
1 15
145
1 45
1.45
145
145
145
145
1 45
1,30
-
-
-
-
-
-
-
-
100
-
-
-
-
-
-
-
-
100
100
100
11 00
1300
13 00
13 00
13 00
1300
1300
1400
1450
14 50
42 50
4250
4400
4400
4400
4400
4300
4300
43 00
4300
1350
1350
1400
1400
1400
1400
1400
1350
1400
1400
1700
1700
1700
1700
1700
1700
1700
1700
1700
1500
200
1 30
1 30
1 30
1 30
1 00
89 15
9145
9445
9595
9645
96 75
9575
9725
9925
95 80
835 12
838 59
86502
88627
873 95
85878
871 30
381 43
88424
86697
SourceCo.' of Evanston Budget Di, ision
153 -
CITY OF EVANSTON, ILLINOIS
Property Tax Rates per $100 - Direct and Overlapping GoNernments
Last Ten Levy Years
Gox ernment Unit
City of Evanston
Consolidated Elections
Cook Countri
Cook County Forest Preserve District
Suburban T.B. Sanitarium
Metropolitan Water Reclamation District
North Shore Mosquito Abatement District
Evanston Township
Community College 535
School District 202
School District 65
Total tax rate for propert}not in park district
or special service district
Percent of total tax rate levied b) City of Evanston
Source: Cook County Assessors office
Tax Levy Year
1997 1998 1999 2000 2001 2002
2003 2004 2005 2006
2.069
1.888
1.934
2.033
1.628
1.610
1.698
1.528
1.491
1.527
0.027
-
0.023
-
0.032
-
0.029
-
0.014
-
0.919
0.911
0.854
0.824
0.746
0.690
0.630
0593
0.533
0.500
0.074
0.072
0.070
0.069
0.067
0.061
0.059
0.060
0.060
0.057
0.008
0.008
0.008
0.008
0.007
0.006
0.004
0.001
0.005
0.005
0.451
0.444
0.419
0.415
0.401
0371
0.361
0.347
0.315
0.284
0.011
0.011
0.011
0.011
0.010
0.009
0.009
0.008
0.008
0.009
0.077
0.072
0.072
0.077
0.064
0.062
0.065
0.056
0.055
0.058
0.216
0.205
0.203
0.213
0.186
0.179
0.186
0.161
0.158
0.166
3.107
2.905
2.865
2.977
2.469
2349
2.444
2.078
2.023
2.099
4.356
4.126
4.073
4.232
3.516
3343
3.475
2.978
2.890
3.045
11315
10.642
10.532
10.859
9.126
8.680
8.960
7.810
7.552
7.750
18.3%
17.7%
18.40/'.
18.7%
17.8%
18.5%
19.0%
19.60/a
19.7%
19.7%
-154-
CITY OF EVANSTON, ILLINOIS
Water Sold by Type of Customer
Last Ten Fiscal Years
(m 100 cubic feet)
Trpe of Customer
Residential
Industrial
Commercial
Go,crmnent
Total
Total direct rate
per 100 cubic feet
Source Citv Water department
Fiscal Tcar
1999 2000 2001 2002 2003 2004 2005 2006 ^-007 2008
Unavailable 2,M,669 2,942,137 2711;271 2734,202 2639,717 2,506,887 2,720,807 2.388,360 2375,942
Unavailable 42440 42,748 41,895 37,076 36,015 22,010 20,096 16,307 16,579
Unavailable 1,306272 1252,818 1.337280 1395 576 1,415,895 1,318,236 1,267,657 1 278 334 1 240,591
UnmaJable 97.565 101021 113349 112007 90908 86,096 109.121 96.777 100,278
- 4,321,946 4,238,724 4,203795 4.278,861 4,182535 3933.229 4,117,681 3779,778 3,7333n0
S 1 47 S 1 47 S 1 47 S 1 47 S 147 S 1 47 S 1 47 S 1 47 S 1 47 S I S2
-155-
CITY OF EVANSTON, ILLINOIS
Water Sold by Major Customers
Last Ten Fiscal Years
1999
2000
2001
2002
Fiscal
2003
Year
2004
2005
2006
2007
2008
Type of Customer
Evanston ressdentsHmsmesses
Villare of Skokie
Northwest Water Commission
S 6,911,950
2,90Zt78
3,181All
S
6,774,380
2,908.102
3367.773
S 6,811,100 $
2,918,766
3,283,048
6,606,091
-859,685
3,247,291
$ 6,711,004
3011,013
3,434,685
$ 6,665,153
2,959,732
3.367253
$ 6,559,026
2,802,720
3377,407
S 6,706,644
3,01 S,734
3750200
$ 5,904,517
2,891534
3,497.939
$ 6,012,643
3,158,396
3,620.873
Total
513,000539
$13,050.255
513,012,914
$12,713,067
513,156,707
$12.992,143
$12,739,153
$13,475,578
$12,194.340
512791,917
Source City Water department
-156-
CITY OF EVANSTON, ILLINOIS
Operating Indicators b} Function/Programs
Last Ten Fears
Function/Program
Police
Violent Offenses
Propcm Offenses
911 Calls Recen ed
Fire
Emergenc) responses
Fires extinguished
Inspections
Other Public Works
Street resurfacing (estimated miles)
Parks and Recreation
Athletic field usage (hours)
Picnic permits issued
Libmrq
Volumes in collection
Total volumes borrowed
Water
New connections
Water main breaks
Average dadp consumption
(millions of gallons)
Peak daily consumption
(millions of gallons)
Calendar Year
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
347
349
393
270
314
293
266
226
224
282
5,311
4.819
4,858
4,174
4,122
3,318
3.145
2,965
2.942
2.825
29,006
27,893
29,052
37,201
55.125
55383
56,650
56.650
55,795
59.135
7,245
7,432
7.566
7.925
8,003
8,106
7,624
8,135
8373
8.517
280
259
247
227
218
225
199
287
220
192
2,620
2,600
-
2,940
3,071
2,664
2.194
1,496
1.320
1,050
3.3
33
3.3
3.3
33
3.3
33
33
33
3.3
unavailable
unavailable
unavailable
unavailable
unavailable
unavailable
unaeadable
unavailable
15.561
15,165
unavailable
unavailable
unavailable
unavailable
unavailable
unavailable
unas adablc
unavailable
319
373
422,966
437,104
455,481
463,263
477.768
491,064
520,458
486.031
495,575
458,017
872,791
858.343
839,701
878,990
887,773
868,837
880,561
893,841
897,141
867,743
23
44
55
68
47
70
59
74
104
61
41
59
53
34
65
41
45
78
48
36
5127
50 33
47 16
37.16
36 22
37 74
3731
41 44
4141
4291
73 40
8074
69 12
75.50
75 50
73 17
6098
8046
6649
6600
Source Various Cm departments
Note Indicators are not available for general government functions
-157-
CITY OF EYANSTON, ILLINOIS
Capital Assets Statistics by Function
Last Ten Yeats
Function/Program
Police
Number of Stations
Budgeted Sworn Officers
Fite Stations
Other Public Works
Streets (miles)
Streetlights
Parks and Recreation
Acreage
Playgrounds
Baseball/softball diamonds
Soccer/football fields
Community centers
Water
Water mains (miles)
Fire In drants
Storage capacity (millions of gallons)
Calendar Year
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
I
162
I
162
1
162
I
161
I
161
i
161
1
161
t
161
1
162
1
162
5
5
5
5
5
5
5
5
5
5
147.0
147.0
147.0
147.0
147.0
t47.0
147.0
147.0
147.0
147
5,641
5,641
5,641
5,641
5,641
5.641
5.641
5,641
5,641
5.641
290
290
290
290
290
290
290
290
290
290
51
51
51
51
51
51
5l
51
51
51
18
18
13
18
18
18
18
18
18
18
27
27
27
27
27
27
27
27
27
27
5
5
5
5
5
5
5
5
5
5
159.0
159.0
159.0
159.0
159.0
1590
159.0
159.0
159.0
157
1347
1.347
1.347
L347
1.347
1,347
1,347
1,347
1,347
1.370
22
22
22
22
22
22
22
22
22
22
Source: Various City departments
Note. No capital asset indicators are available for the general government or Iibran function
-158-
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TAX INCREMENT FINANCING DISTRICT
REQUIREMENTS
This page has been intentionally left blank.
Pq
VirchawKrause
Wompany
INDEPENDENT AUDITOR'S COMPLIANCE REPORT
To Honorable Lorraine H. Morton, Mayor and
Members of the City Council
Evanston, Illinois
We have audited the financial statements of the City of Evanston for the year ended February 29, 2008,
and have issued our report dated September 24, 2008. The financial statement is the responsibility of the
management of the City of Evanston. Our responsibility is to express an opinion on the eligibility of the
expenditures for costs incurred incidental to the implementation of the redevelopment plan and
redevelopment projects associated with the Central Business, Howard Hartrey, Southwest, and
Washington National Tax Increment Districts pursuant to subsection (q) of Section 11-74.4-3 of the Illinois
Tax Increment Redevelopment Allocation Act.
We conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material misstatement. An audit includes examining,
on a test basis, evidence supporting amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principles used and significant estimates made by management, as
well as evaluating the overall financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
The management of the City of Evanston is responsible for the City of Evanston's compliance with laws
and regulations. In connection with our audit, referred to above, we selected and tested transactions and
records to determine the City's compliance with State of Illinois Public Act 85-1142, "An Act in Relation to
Tax Increment Financing."
The results of our tests indicate that for the items tested the Central Business, Howard Hartrey,
Southwest, and Washington National Tax Increment Districts complied with subsection (q) of Section 11-
74.4-3 of Public Act 85-1142.
tom. t,�,�, �{ �.r2.1� 6.t..�
Oak Brook, Illinois
September 24, 2008
Virchow, Krause & Company, LLP
Certified Public Accountants & Consultants • An Independent Member of Baker Tilly International
- 159 -
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